4.29 Initial Morning Analysis
Yesterday's market drew a door, seemingly indicating a significant drop, but from the four smaller time frames, the Bollinger Bands are gradually flattening, fluctuating in the 92000-96000 range, forming a relatively obvious consolidation zone. On the hourly level, there are signs of a certain degree of pullback, but overall it remains in a high-level fluctuation. The current MACD histogram indicates a certain divergence, with the fast and slow lines gradually converging, suggesting a demand for adjustment in the short term. Looking at the one-hour chart, the Bollinger Bands are tightening, bullish momentum is diminishing, there is significant resistance above, and trading volume has not increased, indicating insufficient momentum. In the morning, continue to focus on high points, ensure stop-losses are in place, and avoid counter-trend trading.
Morning Trading Strategy
Shorting Bitcoin around 958-953, targeting 930-940 below. If broken, further targets at 925. Stop-loss at 963.
Shorting Ethereum around 1790-1810, targeting 1750-1720 below, if broken, further targets at 1700.
