April 26th, Saturday Bitcoin and Ethereum Analysis:
Friends, happy weekend! We have once again arrived at our favorite sideways consolidation market time!
Before the army moves, supplies must be prepared. Before the market moves, we must think ahead.
The news over the past two days has had a significant impact on the market, but it can be said that the noise is loud while the rain is light; there are many positive signals, but the market's rise has been moderate. From the perspective of the market manipulators, considering the last surge, many 'leeks' (investors) have already been harvested, making a potential trap more reasonable now.
From the market analysis, after Bitcoin broke 950 last night, it did not continue to rise. The retracement was also very low. Currently, the four-hour support is around 943. If the four-hour retracement does not break 943, there is still room for the market to rise. The possibility of breaking up or down over the weekend is low. We are currently trading in the range of 843-855, selling high and buying low. The current market shows a slight upward trend. A short position may be taken during the day, but I personally estimate that before the head shows strength, it needs to break above the 876 resistance, and before dumping the market, there needs to be enough upward movement first.
Ethereum is similar. The key support level is 1780, and we need to closely monitor the four-hour break situation. If it does not break, we look at the 1837 resistance level, trading around this position. If we break below, watch for support below 1730-1678.
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