April 29 Market Analysis
Looking back at yesterday's market, after dipping to 92800 in the morning, there was a rebound with 11 consecutive upward candles on the hourly chart. By the evening, it dropped directly to the support near 93500, and until this morning, the daily chart closed with a bullish candle, indicating a relatively strong performance.
On the daily level today, we can see that the 10-day moving average has crossed above the 120 and 180-day moving averages. At this moment, the major coin has also retraced to the 5-day line. From the larger trend perspective, the 10-day moving average is catching up, and there is a high possibility of continuing bullish candles over the next couple of days.
From the four-hour chart, every time the market reaches the lower Bollinger Band, it quickly bounces back to the upper band, showing a strong performance even during high-level fluctuations.
On the intraday short-term, the fifteen-minute chart has retraced to the Vegas channel, bouncing back from here. If the fifteen-minute rebound can stabilize at the middle band, it will push the hourly level to continue fluctuating upwards. The MACD on the hourly level has crossed above the zero line, adjusting twice with a golden cross, allowing for more continuity in the market.
In terms of operations, today remains a buy on dips, waiting for another breakthrough at the daily level. $BTC #加密市场反弹
Upper Resistance: 94900-95500
Lower Support: 94150-93500
