4.29 Tuesday Evening Bitcoin Ethereum Market Analysis and Trading Suggestions

Bitcoin faced resistance at 95415 in the morning session and fell back, reaching a low of 94154. When the price touched this level, the bearish momentum clearly weakened, and there were signs of a market reversal. The price rebounded strongly, currently reaching a high of 95239, forming a technical recovery trend. Ethereum started to rally from a temporary bottom of 1786, with an intraday high of 1842. Based on professional analysis of market structure, we accurately captured this pullback trend. We placed short positions at 95200, perfectly capturing the top signal, and decisively took profits when the price fell back to 94200, successfully securing a 1000-point gain.

From the daily chart, the trend is particularly evident. After experiencing a deep pullback, the market is currently maintaining a wide range of fluctuations, consistently failing to effectively break through the key resistance zone of 95000-96000. Observing the 4-hour candlestick chart, Bitcoin recently reached a temporary high of 95769, but in the following trading periods, it failed to sustain the upward momentum, instead forming a clear high-level stagnation pattern in the 94000-95500 USD range. The Bollinger Bands show signs of contraction, with the upper band currently around 95300 and the middle band providing dynamic support at 94350. Although the price has tested the upper band pressure multiple times, it has consistently failed to break through effectively, leading to profit-taking each time it touches the upper band. Therefore, we remain bearish in our trading direction this evening.

Bitcoin: Short near 95300-95600, short-term target 93500

Ethereum: Short near 1840, short-term target 1750