4.28 Monday Morning Market Analysis
As Labor Day approaches, referencing the trends from the past few weeks, a rebound may occur on Monday. Bitcoin surged to 945 at midnight before falling back, currently adjusting at 937, with significant resistance above.
If it can stabilize above 930 in the short term, there is a possibility for further upward movement. It is expected to pull back to 930 and then rebound to 960, but after encountering resistance, it may drop to 920, requiring flexible responses.
From a technical perspective, the price is above the middle band of the Bollinger Bands, oscillating at a high level with both bullish and bearish pressures.
The MACD is negative and both the fast and slow lines are moving downwards, indicating that bears currently have the upper hand;
The RSI has fallen from the overbought zone to neutral, suggesting that market sentiment is stabilizing. It is recommended to buy on dips and to set stop-losses.
Trading Suggestions:
- BTC: Buy on a pullback to 925-930, target 943-950
- ETH: Buy on a pullback to 1740-1760, target 1820-1850
