4.26 Market Analysis:
Overnight, Bitcoin continued its strength under the influence of the opening of the US stock market, reaching a high of $95,769 during the day, setting a recent high. However, after a rapid rise during the US trading session, it faced profit-taking, and is currently fluctuating around the $95,000 mark as both bulls and bears engage in fierce competition.
Technical Analysis Breakdown
The daily chart shows a consolidation pattern following a "Three White Soldiers" formation, with three consecutive trading days closing above the 5-day moving average, indicating that bulls still hold the advantage. Notably, the four-hour Bollinger Bands show a significant narrowing, which usually signals that a major reversal window is approaching. The current $96,000 psychological level acts as resistance, coinciding with the weekly Fibonacci 38.2% retracement level.
Key Indicator Alerts
MACD Indicator: A bearish divergence signal appears on the four-hour chart.
Volume: During the peak, the trading volume did not effectively increase.
RSI Indicator: The daily chart has entered the overbought zone.
The market is continuously changing, and we are closely monitoring it to seize new entry opportunities. Like + comment, let’s navigate through the bull market and seize this major opportunity together.
