Bitcoin's short-term volatility is decreasing, fluctuating between 77,500 and 76,000 throughout the day. From a daily chart perspective, the pullback is evident, the overall trend remains weak, and strong bearish pressure exists above, indicating the downtrend is not yet over. On the 4-hour chart, after a rapid decline, the price has found some support around 76,000. The MACD has formed a golden cross below the zero line, with the first appearance of red momentum bars, suggesting a possible short-term corrective rebound or consolidation. However, the upper and middle Bollinger Bands will be the main resistance levels for any rebound, and the overall trend remains within a bearish range. Switching to the 1-hour chart, after touching a low of 76,014.2, the price has formed a small-scale corrective rebound pattern. The Bollinger Bands are narrowing, stabilizing at lower levels, and the MACD also shows signs of a golden cross below the zero line, indicating a temporary slowdown in the short-term downtrend, with bulls attempting a counterattack, albeit with relatively weak momentum. In summary, given the short-term rebound signals on the 4-hour and 1-hour charts, the initial resistance is around 77,500-78,000. However, suppressed by the overall daily trend, without significant positive news or strong capital inflows, the market is likely to continue its weak and volatile trend, and may even retest lower support levels. Pay close attention to the support level around 76,000; a break below this level could open up further downside potential. For intraday trading, selling on rallies is the main strategy. Tonight, short Bitcoin at 77,500 and Ethereum at 2130, targeting a pullback to 76,000 and 2160.
Bitcoin and Ethereum trading recommendations for the evening of May 20th.
2026-05-20 12:32:14
Share
Disclaimer: This article is copyrighted by the original author and does not represent MyToken’s views and positions. If you have any questions regarding content or copyright, please contact us.(www.mytokencap.com)contact
About MyToken:https://www.mytokencap.com/en/aboutusArticle Link:https://www.mytokencap.com/en/choicenews/3254797.html
More exciting content is available on
X(https://x.com/MyTokencap)or join the community to learn more:MyToken-English Telegram Group
(https://t.me/mytokenGroup)
X(https://x.com/MyTokencap)or join the community to learn more:MyToken-English Telegram Group
(https://t.me/mytokenGroup)