Thursday, May 1, 2025

Bitcoin surged nearly a thousand points from a low of 93,493 at midnight to 94,448, encountered resistance and fell back to 93,711 for consolidation, then rose over a thousand points to reach 94,721 before retreating to 93,941, oscillating with significant selling pressure in the 94,500-94,700 range. The bullish outlook from yesterday has been validated, and the current coin price is consolidating around 94,200.

From a technical perspective, the 1-hour MACD has a golden cross but lacks volume, while the 4-hour Bollinger Bands are narrowing. Short-term support is at 93,500-93,700, resistance at 94,500-94,700, with the market in a tug-of-war between bulls and bears. The rebound trend after the significant drop remains unchanged, with a primary focus on low buying strategies, adjusting if it breaks 93,500.

Ethereum is moving in sync with Bitcoin, with solid support at lower levels. The technical analysis shows that short-term rebound momentum still exists, with key support in the 1,750-1,770 range and resistance at 1,820-1,840.

For trading, I personally suggest buying Bitcoin near 93,800-94,000, targeting around 95,000!

For Ethereum, buy near 1,780, targeting around 1,830!