April 29, Tuesday
BTC, ETH, SOL Daytime Outlook.
The upward trend remains, positively looking for a downward movement.
BTC
The four-hour Bollinger Bands are narrowing, and the short-term is still in a state of volatility. Yesterday, after a rebound to 956, it retraced to a low near 934, and after midnight, the four-hour candlestick closed again firmly at 943. My breakeven loss was also swept away, and currently, we can see that the retracement strength has weakened again. After the big coin moved northward, this is the first retracement to 916, the second retracement to 928, and the third retracement was yesterday at 934.
From a four-hour perspective, the current consolidation range resembles the previous breakthrough at 860 in some ways. Perhaps the possibility we mentioned yesterday of three scenarios with horizontal movements replacing declines is higher. If the upward trend is to strengthen, it first needs to break 928; only then will it test the support at 913. If 913 breaks, it will accelerate to 880.
Therefore, the trend of rebounding during the retracement remains until these signals appear. We will take consolidation as the primary focus and look positively at the retracement.
In the 955-928 range, high sell and low buy; short positions should at least wait for the nearby high points to enter, and the 928 position below is also quite extreme. Specific entry points will be communicated to everyone later.
ETH
Relatively speaking, it is not as strong as Bitcoin. The strength of the four-hour rebound is not very large, and it has tested 1745 multiple times during the retracement. Currently, it is at the same position as yesterday. The rebound strength needs to stabilize above 1815 on the four-hour level to test the resistance at 1860 again, and a breakthrough would be near 1920.
Without previous short-term trends following the market, just look at the range. The support below is at 1745-1685, and leave some space for pin bars for the entry position, which means high sell and low buy in the 1730-1820 range.
SOL
Recently, I haven't been trading. The four-hour focus is on the two support levels at 144-138. Entering around this area offers a considerable profit margin for short positions. For long positions, at least need to get close to around 155.
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