April 29, 2025, Tuesday Morning Cryptocurrency Market Analysis

1. Market Review: Battle of Bulls and Bears, Intense Fluctuations

Yesterday, the battle between bulls and bears for Bitcoin was fierce, with significant volatility. After opening, Bitcoin experienced a strong upward trend, reaching a high of 95,000. However, as the bears gradually gained strength, the price quickly fell back to a low of 93,000. In the later trading session, buying pressure increased, pushing Bitcoin back above 94,000 at close. From an hourly perspective, the trading volume during the decline gradually shrank, indicating a slowdown in the downward momentum, and some long lower shadows appeared in the candlestick patterns, suggesting that there is certain support below and a demand for technical rebounds.

Ethereum's movement was basically in sync with Bitcoin, initially rising to 1,800 in the morning session following market sentiment, then retreating under bearish pressure to a low of 1,750, eventually closing around 1,770. On the daily chart, Ethereum faced significant resistance near 1,800, with multiple attempts to break through failing, indicating strong overhead pressure. However, from a short-term indicator perspective, the RSI indicator has entered the oversold zone and started to rebound, suggesting a demand for a rebound and correction in the short term.

Morning analysis is as follows:

Bitcoin: Short at 95,000-95,500, targeting 93,500

Ethereum: Short at 1,800-1,830, targeting 1,700