Thoughts on the Afternoon of May 22

The morning's suggestion to buy on the dip did not provide much space for a significant pullback, as Bitcoin surged strongly to create a new high. Currently, the market shows that Bitcoin maintains a continuous upward trend on the weekly chart, with a strong one-sided structure. Although there have been technical pullbacks, they still serve to accumulate momentum for a second upward exploration. The daily chart continues to rise in price comparison, and after horizontal consolidation, it has once again broken through the resistance level, refreshing the previous high. Therefore, the momentum remains very strong. On the four-hour structure, there have been continuous upward candles forming relatively full medium-sized bullish candles, maintaining a trend of oscillating upward. Additionally, the Bollinger Bands are still opening upward, which aligns with the strategy of buying on dips. After a brief technical pullback, the bullish trend will continue. Thus, if the support level at 110000 does not break, there is still potential for further highs.

Trading Suggestion

Buy Bitcoin near 110000, target 111500

Buy Ethereum near 2580, target 2680