250428 - Bitcoin Market Analysis

First, let's state the conclusion: it is not advisable to short at this time.

Since about half a month ago, as the U.S. stock market gradually warmed up, I keenly sensed that the Bitcoin market was reversing.

So for the past half month, I've either not recommended opening positions, or if opening positions, it has been primarily bullish. After consolidating for a week, Bitcoin has experienced explosive growth.

The highest point was almost touching the resistance level of 0.618 (96,200).

Currently, there has been a brief pullback, but there has been no significant drop in volume compared to the large trading volume during the rise. Therefore, despite the current pullback, there is no need to rush to short.

Furthermore, from the Fibonacci sequence, we can see that after the surge, Bitcoin has tested the 0.5 support level (92,000) twice during pullbacks, but has not successfully broken below it. Thus, the 92,000 level can serve as a temporary support level. If Bitcoin approaches around 92,000, we can observe and consider going long.

If it clearly breaks below 92,000 with increased volume, a deeper pullback may follow, and it would be wise to consider short-term stop-loss and wait for a pullback to around 0.382 (approximately 87,900) before looking for opportunities. $BTC #BTC走势分析