5.22 Initial Analysis at Dawn
The four-hour K-line chart shows that the Bollinger Bands are opening upwards, indicating that the market situation has not yet reversed, but the upper band is overbought, triggering a pullback. Fortunately, the middle band provides strong support, and if it stabilizes during the retracement, it presents a good opportunity to go long.
In the evening, the momentum of Bitcoin surged, climbing all the way to a high of 109800. Just one step away from the 110000 mark, the situation changed dramatically as the U.S. stock market plummeted, leading to a swift counterattack by the bears, pulling the price strongly back to the starting point. However, the overall trend is still dominated by the bulls, and subsequent operations are suggested to focus on a strategy of buying on dips.
As long as there are no significant negative news impacts, the upward trend is expected to continue, and it is recommended to seize opportunities to go long when the price retraces to support levels.
Bitcoin: Around 105700-106300 for longs, target 107000-108000
Ethereum: Around 2430-2450 for longs, target around 2550-2600
