Saturday, April 26, Bitcoin Latest Market Analysis

Yesterday, Bitcoin maintained a continuous upward trend, reaching the resistance level around 95,769. Both the long positions we set up in the morning and the short positions have been closed. Last night, under the influence of news events, market sentiment, and the U.S. stock market, the price increased rapidly, and currently, it has retraced to around 94,800 for consolidation.

The daily chart for Bitcoin shows a small bullish candlestick rebound pattern, with both bulls and bears engaged in fierce competition around the doji candlestick. Currently, it is consolidating sideways without further declines. The four-hour chart indicates a contraction of the Bollinger Bands, suggesting that the market may continue to decline. After a quick pullback from a high point, the key resistance level to watch is 96,000. On the daily level, the moving average indicators show divergence, indicating a need for market correction. Additionally, the hourly and four-hour charts have both entered a downward channel.

This weekend, we will observe whether the resistance levels can hold. Given that the market has not made any substantial breakthroughs for some time, the pressure remains quite strong. We can continue to look for a short opportunity, anticipating a bearish close on the daily chart.

BTC: Short near 94,800-95,200 Target 93,500-92,500

ETH: Short near 1,810 Target 1,750