4.27 Initial Analysis of Morning Thoughts
The overall market for Bitcoin is showing a weak oscillating pattern. After a brief test of the high at 95100 in the morning, it quickly faced pressure and fell back. Throughout the day, the weak pattern continued, with prices oscillating down to the low point around 93800. Although a technical rebound was triggered here, the bullish momentum was clearly insufficient, and the rebound strength was quite limited.
After rebounding to the high point of 1840, Ethereum faced significant selling pressure, dropping to a low of 1770. This movement perfectly confirms the bearish expectations put forward in the morning, demonstrating the professional analyst’s precise grasp of the market rhythm.
Currently, prices are showing a pattern of rising and falling back, with significant resistance in the upper area. The K-line body has not effectively stabilized at key levels. During the downward process, bearish volume continues to be released. Although there has been a weak rebound, the moving average system is in a bearish arrangement and diverging downwards. The short-term trend appears to be a corrective consolidation, with prices repeatedly testing the mid-band pressure within a contracting Bollinger band. Although the short-term moving averages are somewhat cohesive, the K-line has repeatedly surged and retreated, raising doubts about the sustainability of the rebound. The prevailing thought in the early morning remains bearish.
Bitcoin: Short near 94500, short-term target 93000
Ethereum: Short near 1820, short-term target 1750
