April 24 BTC Analysis
BTC reached a peak of 94,900 last night, which is the upper boundary of the daily k level, and then fell back to the hourly support at 91,800, initiating a small-scale rebound.
Currently, this small-scale rebound has no volume and shows a top divergence pattern, so it will continue to test support downwards. Only after confirming the support is valid will it continue upwards.
If the hourly support continues to break down, it will further test the next level of support, located in the 89,000 area. After confirming the effectiveness of this position, it will require some sideways consolidation to correct the previous excessive stretch.
For the day, BTC price currently stands at 93,400. It is advisable not to maintain an overly bullish sentiment at this moment; first, observe which direction the price moves before deciding on how to act;
Those looking to open long positions can wait to enter around the 91,500 area, targeting 94,800.
For short positions, entry can be considered in the high point 948-950 area, targeting 93.
