April 29 Market Situation Analysis:


Bitcoin 4-hour level trend, the price has pulled back and adjusted from 79,500 points, and currently closed with a full-bodied bullish candlestick, near the intraday high. It is clearly visible that short-term bulls are starting to enter and exert force. However, this rebound bullish candlestick is still within the previous downtrend structure, with heavy resistance above.

From a technical perspective, the MACD indicator shows that the DIF and DEA lines are operating below the zero axis, and DIF remains below DEA, indicating that the overall major trend is still bearish. But the MACD green histogram momentum is gradually converging, suggesting that the downward momentum of the bears is weakening, and the short-term decline pace will slow down. There is a technical rebound correction demand, and the overall trend remains unchanged.

Layout reference: #Crypto
Team One: Short positions in the 77,300-76,800 range for Bitcoin, target 75,500-74,000
Team Two: Short positions in the 2,330-2,300 range for Ethereum, target 2,180-2,080$BTC
BTC-0.14%
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