Wave through the currency sea: 4.28 Bitcoin (BTC) market analysis reference:

Bitcoin surged and then fell back, with recent market trends continuing a bearish movement. Observing the daily chart, Bitcoin's price fell back after reaching the phase high point, but it remains above the middle Bollinger band and has not formed an effective breakdown. The upper Bollinger band is slightly downward pressured, while the middle and lower bands maintain an upward trend. Although the upward channel has not been completely destroyed, the bullish momentum has significantly weakened. The MACD indicator shows that the DIF line and DEA line have turned downwards at a high position, and a death cross is about to form; the positive bars have disappeared and turned into slight negative bars, indicating an initial release of bearish momentum. The RSI has fallen to 47, and the K and D values of KDJ have also turned down from the overbought zone. The overall trend has shifted from strong bullishness to weak high-level fluctuations, and we need to be wary of the risk of a pullback after losing support at the middle line.

From the short-term hourly chart extending to the 4-hour level, prices have broken below all short-term moving averages such as EMA7 and EMA15, forming a bearish arrangement in the moving average system. The current price is near the lower Bollinger band, and the Bollinger bands are opening down, indicating a significant weakness. The MACD indicator's DIF line continues to decline below the zero axis, with the volume of the bars increasing, further enhancing bearish momentum; the RSI has fallen to around 30, and the J value of KDJ has dropped to single digits. Although short-term oversold signs have appeared, there is still no clear turning up signal in a golden cross. The dominant pattern remains bearish short-term. If it cannot quickly recover above the 77000 moving average resistance level, it is highly likely to continue probing for support.

Wave through the currency sea: 4.28 Bitcoin short-term reference:

Long position: Long in the 74600-75600 range, stop loss 500 points, target at 76000-77000,

Short position: Short in the 78600-77600 range, stop loss 500 points, target at 77000-76000,

【The above analysis and strategy are for reference only, risks are borne by yourself. The article's review and publication may have delays, and the strategy lacks timeliness. Do not operate blindly】

This article's content is originally shared by 【Wave through the currency sea】, representing personal views only. The article is sent with delays and is for reference only; do not operate blindly! Want to get more daily real-time trades? Then follow my public account! Here, you can learn technical analysis online and understand knowledge related to exiting positions. I have years of research experience in the market, focusing on the overall trends in the cryptocurrency space. Mainly responsible for analyzing and guiding the investment operations of BTC, ETH, SOL, BCH, and other cryptocurrencies. Welcome to study and research together.

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