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21.05.202608:49 Forex Analysis & Reviews: Cryptocurrency Market Trading Recommendations for May 21

Relevancia 02:00 UTC--4

Bitcoin continued its ongoing recovery yesterday, reaching a level of $78,100 today. Ethereum also rose, hitting $2,154, but that's where the positive momentum ends.

Exchange Rates 21.05.2026 analysis

The bullish momentum in the cryptocurrency market continues to fade. Spot ETFs for Bitcoin and Ethereum are experiencing sustained outflows, signaling that large players are using the recent small upward correction as a convenient moment to exit their positions. BlackRock made a notable move: it transferred 4,986 BTC (approximately $386.2 million) and 28,081 ETH (approximately $59.8 million) to the Coinbase Prime exchange. The transfer of assets to an exchange is traditionally interpreted by the market as a signal of intent to sell, and in this context, it's hard to interpret otherwise.

The developments indicate synchronous pressure from both institutional investors and retail traders: they are selling Bitcoin and Ethereum amid the local price bounce. When the world's largest asset manager consistently moves hundreds of millions of dollars onto an exchange, it creates a strong bearish signal for the entire market. Until the outflows from ETFs turn into inflows and such transfers cease, it is premature to speak of a recovery of a sustainable upward trend.

Regarding the intraday strategy in the cryptocurrency market, the strategy and conditions are outlined below.

Bitcoin

Exchange Rates 21.05.2026 analysis

Buying Scenario

Scenario No. 1: I plan to buy Bitcoin today upon reaching an entry point around $77,900, aiming for growth to level $78,500. At around $78,500, I will exit the buy trades and sell immediately on the bounce. Before buying on a breakout, ensure that the 50-day moving average is below the current price and that the Awesome indicator is above zero.

Scenario No. 2: I can buy Bitcoin from the lower boundary of $77,600 if there is no market reaction to its breakout in the opposite direction towards levels $77,900 and $78,500.

Selling Scenario

Scenario No. 1: I plan to sell Bitcoin today upon reaching an entry point around $77,600, with a target for a decline to level $77,300. At around $77,300, I will exit the sell trades and immediately buy back on the bounce. Before selling on a breakout, ensure that the 50-day moving average is above the current price and that the Awesome indicator is below zero.

Scenario No. 2: I can sell Bitcoin from the upper boundary of $77,900 if there is no market reaction to its breakout in the opposite direction towards levels $77,600 and $77,300.

Ethereum

Exchange Rates 21.05.2026 analysis

Buying Scenario

Scenario No. 1: I plan to buy Ethereum today upon reaching an entry point around $2,138, targeting growth to level $2,161. At around $2,161, I will exit the buy trades and sell immediately on the bounce. Before buying on a breakout, ensure that the 50-day moving average is below the current price and that the Awesome indicator is above zero.

Scenario No. 2: I can buy Ethereum from the lower boundary of $2,129 if there is no market reaction to its breakout in the opposite direction towards levels $2,138 and $2,161.

Selling Scenario

Scenario No. 1: I plan to sell Ethereum today upon reaching an entry point around $2,129, with a target for a decline to level $2,109. At around $2,109, I will exit the sell trades and immediately buy back on the bounce. Before selling on a breakout, ensure that the 50-day moving average is above the current price and that the Awesome indicator is below zero.

Scenario No. 2: I can sell Ethereum from the upper boundary of $2,138 if there is no market reaction to its breakout in the opposite direction towards levels $2,129 and $2,109.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Miroslaw Bawulski,
Analytical expert of InstaSpot
© 2007-2026
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