Analyst Liang Qiu: Multiple Highs and Pullbacks for Bitcoin on April 29, Are Bears Starting to Gain Strength?

In recent days, Bitcoin has repeatedly been positioned to push higher and then pull back, and the market has indeed risen and fallen as expected. As emphasized in previous articles, the upper resistances at 1850 and 96000 have been significant, and those who have been following closely likely have a good understanding of the situation. Currently, the market has dropped as anticipated, and the rebound strength is relatively small. However, considering the recent oscillation around this position, there is still an expectation for a rebound, although it is not very strong. On the daily chart, Bitcoin has now broken below the 7-day moving average at 94000 and the 1780 level, so we will see if it can push up and stabilize again in the later half of the night.

On the daily chart, the market has begun to rise and then pull back, breaking the daily low and showing signs of weakness. The Bollinger Bands on the 4-hour and 8-hour charts are starting to constrict, indicating weak continuation. There is still an expectation for a rebound in the early morning, with continued resistance to watch at 1800 and 95000. The focus for the early morning will be on rebound followed by pullback as the primary scenario.

For early morning trading, Liang Qiu suggests entering short on Bitcoin around 94300 to 94800, targeting near 92500; for Ethereum, continue to enter short around 1780 to 1800, targeting near 1730.

Daily strategy analysis is limited, and the market is subject to change, so please refer to real-time data. #Strategy增持比特币