May 21

BTC:

Yesterday, the price of Bitcoin first fell to the 104200 level and then stabilized, subsequently starting to rebound and once again rising to refresh the short-term high. The strategy of going short first and then long was correct. For today, Bitcoin is relatively strong; unlike the previous two times when it quickly dropped after being blocked around 107000, today it has been running above 106000 for a considerable time. Of course, it has not yet broken through the recent upward sloping range, but it is close to the upper boundary of that range. For today, it is temporarily biased towards weakness, but it is only suitable for holding positions and not for opening new ones. The support for today is at the 106000 level; if this support holds, it will still be relatively strong. If it breaks this support, it will continue to approach 104500 or even 103000. After breaking, one should short on rallies. If Bitcoin maintains its strength, a strong bullish candle breaking 108000 on the 4H chart would be an effective breakout from the recent range, at which point one could continue to go long on dips.

ETH:

Today, Ethereum is somewhat stronger than Bitcoin, but not by much. The daily candlestick is still a distance away from the previous high. If Bitcoin's price breaks 108000, there will be a demand for Ethereum to catch up. The support for today is at the 2450 level, and trades should follow Bitcoin's breakout or breakdown.