Bitcoin is fluctuating at a high position, short sellers are lonely, long buyers are trapped, and the market makers are playing with their emotions!
News Update: Bitcoin ($BTC) is currently priced at $94,800, up 0.5% in the last 24 hours, while Ethereum ($ETH) is at $1,822, up 0.8%! Trading volume has shrunk to $38 billion, and the market remains indecisive! Exchange contract data shows a surge in short positions but pressure is hard to achieve! Market makers are strongly resisting with $BTC and $ETH, shorts are lonely, and longs are trapped!
Why are short sellers lonely and long buyers trapped?
Market Makers' Support: On-chain data shows institutional ETF inflows of $850 million, while a whale has bought 5,000 $BTC (approximately $470 million), with no reduction in $ETH holdings; market makers are firmly defending $94,800 and $1,822!
Market Sentiment is Hesitant: The Fear & Greed Index is at 68 (Greedy), retail investors are long at $1,822 but are trapped, and shorts face strong support from market makers, feeling lonely in this fluctuation washout!
Technical Analysis is Stalemated: $5,388,122,991,794,800 is resisting the daily MA20, while $9,666,874,183,918,22 is pressing the 4-hour Bollinger upper band, with heated discussions on "no volume breakout, market makers controlling the market"!
Macroeconomic Pressure: US Treasury yields are at a high of 4.65% (April 28), putting pressure on risk assets, yet $BTC and $ETH are resilient against declines, with hot discussions on "market makers not letting shorts have it easy"!
How to interpret the candlestick charts? How will they move?
$5,388,122,991,7 4H: $94,800 is pressing the Bollinger upper band, MACD has crossed down, RSI is at 65. Support at $94,000, resistance at $97,000.
Trend: Primarily fluctuating, shorts are hard-pressed to break $94,000.
ETH 4H: $1,822 is pressing the Bollinger upper band, MACD has crossed up and is leveling out, RSI is at 62. Support at $1,800, resistance at $1,850.
Trend: High-level consolidation, guarding against a pullback to $1,800.
Should we buy the dip?
$BTC: Buy at $94,000, stop loss at $93,500, target $96,000.
$ETH: Buy at $1,800, stop loss at $1,780, target $1,850.
Keep an eye on ETF inflows and US Treasury dynamics, avoid chasing highs! Bull market heat in Q3, is $BTC aiming for $100,000 and $ETH for $2,000 still possible?
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