Yesterday, the Bitcoin icon fluctuated around 94,500 with a few hundred points up and down, still operating within the range. In the past few days, I have repeatedly emphasized that there is not much space above the current position, with a maximum upward space of 2,000 to 3,000 points. Only after a subsequent pullback will the risk-reward ratio be high. The current viewpoint remains unchanged; at this position, we continue to wait and will not enter the market unless it goes down.

From a daily perspective, Bitcoin has been in a sideways trend for more than 8 days and is about to choose a direction. Let’s wait a little longer here; if the market maker induces buying, it may rise to between 96,000 and 98,000.

From a 4-hour view, the MACD is returning to the zero axis, still operating within the range of 92,000 to 95,600. Today is the last trading day of April, and it has been determined that the monthly line will close positive, so there is a high probability that Bitcoin will close with a negative monthly line in May.

On the weekly chart, this week is the 4th week of the rebound, and next week is expected to be a reversal week. If it can drop again and go back down to around 80,000, we can wait for the indicators to stabilize before entering the market for a new high trend after mid-June. For now, let’s wait a little longer.

Summary:

1. Bitcoin is still operating within a short-term range and is about to break the balance of the box. If it breaks upwards, be cautious of a quick drop after inducing buying.

2. The cost-performance ratio for medium-term layout at the current position is very low, continue to wait for the subsequent pullback.