BTC Market Analysis for the Week of 4/28

The market is still characterized by a fluctuating and slightly declining trend instead of a sharp drop, transitioning through the pressure of the 6-hour Bollinger Bands, which is a strong signal that the main force has not been selling off.

Currently, the weekly MACD has bottomed out and rebounded, and it has not yet reached the moment of the Federal Reserve's interest rate decision. Forming a golden cross to initiate a bullish pattern is not possible, and there is also the non-farm payroll data announcement before the interest rate decision. Therefore, I personally believe that capital will take measures to cut retail investors at this stage.

After the short positions increased over the weekend, today the daily chart shows a release of bullish energy, and the market has not broken below 91,600 to form a barrier, so for now, the market remains primarily in a 6-hour fluctuation.

However, remember that this situation will definitely have a point where it either rises or falls. If it rises, the market will fluctuate in the range of 95,500 to 99,000. If it falls, support will be at 89,000 to 90,500. (Currently leaning more towards the former)

Regardless of which trend occurs, we will wait for the market to show signs of emerging patterns before choosing to enter. For now, we observe.

Aggressive traders can choose to take high short and low long positions within the 6-hour Bollinger Bands, but they must use the 'Short Probe Method' to enter, to ensure they can exit with their capital intact in case the market changes.

Those seeking stability should wait for the trend to emerge or operate after the U.S. stock market opens at 9:30 PM.

As this is a post, I cannot provide timely technical guidance and suggestions under special circumstances. I hope followers manage their risk well. If you want to learn technical analysis and seek services, you can consult me.

April 30 - U.S. April ADP Employment Index

May 1 - U.S. April ISM Manufacturing PMI

May 2 - Non-Farm Payroll

May 8 - Federal Reserve Interest Rate Decision #BTC☀