April 29 Market Analysis:

Yesterday's market experienced significant fluctuations, seemingly indicating a looming crash, causing anxiety among traders. However, upon closer inspection of the four-hour candlestick chart, the Bollinger Bands have started to flatten, with prices oscillating in the 92000 - 96000 range.

At the hourly level, signs of a pullback are evident, but overall it remains in a high-level consolidation, akin to a deflating balloon; although it is slightly descending, it still floats high in the air.

In terms of technical indicators, the MACD histogram shows divergence, and the fast and slow lines are converging, resembling two people with drawn swords, suggesting a high probability of short-term market adjustment. The RSI value is approaching the overbought zone but has not fully entered it, indicating optimistic market sentiment, yet hidden risks of a pullback.

Among the moving averages, the EMA7 and EMA30, both short-term moving averages, are closely intertwined, with prices still below the EMA7, making the short-term trend difficult to grasp, like flowers seen through fog. However, the EMA120 long-term moving average is steadily trending upwards, indicating a positive long-term trend, although there may be occasional bumps, the overall direction remains unchanged.

In my opinion, there is a high probability of a significant pullback in the near future. There are too many individuals who have gone long recently, and the market manipulators will not allow the bulls to run rampant; they will suppress prices, teaching blindly optimistic traders a lesson. Therefore, recent operations must be cautious, prioritizing risk management, and do not wait until losses occur to regret.

Specific Trading Suggestions

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Short Selling: If prices are in the 95500 - 94800 range, consider short selling, with a stop loss set above 96000. If the market declines, first watch the 94000 - 93400 range, and if it continues to drop, pay attention to support around 92600. Going Long: If prices drop to the 93000 - 93800 range, consider trying to go long, with a stop loss set below 92600. If the market rises, first watch whether it can break through the 94500 - 95400 range.

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Short Selling: If prices are in the 1820 - 1790 range, you can short sell, with a stop loss set above 1860. If the market pulls back, first watch the 1750 - 1720 range, and if it continues to drop, pay attention to support around 1680. Going Long: If prices are in the 1730 - 1760 range, you can consider trying to go long, with a stop loss set below 1680. If the market rebounds, first watch whether it can reach the 1800 - 1830 range.

The market continues to change, and we closely monitor it to seize new entry opportunities. Like and comment, let’s navigate the bull market together and seize this major opportunity.