Evening Analysis and Suggestions on May 21
Looking at the market, the afternoon trend is as expected, with a brief pullback followed by a rise breaking through previous highs. After reaching the intraday high of 107950, it retraced, which also hit our first target for long positions, and is currently back below 106500. Overall, the market shows that after several upward breakthroughs, it encounters strong resistance that hampers further rises, resulting in a brief return to a consolidation and adjustment structure. On the four-hour chart, although there has been a sustained upward breakout, the pullbacks during this period have also been frequent. After the upward pressure and retracement, technical indicators have reversed, and the downward pressure has noticeably increased. After consecutive bearish candles on the hourly chart, it broke through the middle track, but there hasn't been a stronger continuation; the lower track still shows an upward trend, with clear signs of a halt in decline, accompanied by a contraction of the price range, indicating the market is gradually shifting to a weak consolidation.
Zhimin's Suggestions
Buy Bitcoin around 105500 to 106000, target 107500-108000
Buy Ethereum around 2520-2500, target 2570-2600
