May 22 Market Analysis and Strategy
Bitcoin maintains a strong pattern on the 4-hour chart, with any pullbacks being quickly absorbed. The middle line of the Bollinger Bands forms a key support line. The low point from yesterday has become a watershed for the market; the intraday trading strategy suggests using the resonating area of the middle line and the early morning low point (currently moving up to around 108,000) as a defensive position, continuing with a bullish outlook.
Ethereum synchronized with Bitcoin's late evening spike near 2450 yesterday. In recent days, Ethereum has been spiking every day, but it has not fallen below 2400 points, indicating strong bottom support, with spikes both up and down. Once Bitcoin reaches 110,000, it will start to make up for losses. The target for this week remains unchanged at 2800 points! Intraday, pay attention to the upper pressure levels in the 2680-2720 range, and the lower support levels in the 2580-2600 range.
Operating Suggestions
Bitcoin can be traded in the 110100-110400 range with a target of 112000.
Ethereum can be traded in the 2620-2640 range with a target of 2740.
