4.28 Monday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

In the morning, Bitcoin faced pressure at the line of 94517, forming a pullback, with a low touching 92700, where strong buying support was evident, followed by a rebound. Ethereum mirrored Bitcoin's trend, with the high point at 1806 facing pressure and a low touching 1750 stopping the decline. In the morning, Bitcoin short positions were set at 94250, capturing a 1350-point range, closing at 92900, while Ethereum set short positions at 1805, taking profits at 1765 for a 40-point range.

The daily chart shows that after reaching a recent high of 95700, the price quickly retreated, indicating a significant weakening of upward momentum. The MACD indicator showed a top divergence signal, suggesting that it may enter a consolidation phase for a peak in the short term, potentially leading to a larger technical correction. From the 4-hour candlestick chart, the market continues to display a pattern of rising and then retreating, with the price unable to form an effective breakout after reaching recent highs, transitioning into a range consolidation phase. The current market shows a clear tug-of-war between bulls and bears, with a resistance area forming a ceiling that is hard to surpass, while the support level below has repeatedly withstood bearish tests, building a solid defensive position. The Bollinger Bands are beginning to narrow, indicating that the market is about to face a directional choice. Until the fluctuating range is effectively broken, the trading suggestion is to adopt a strategy of selling high and buying low.

Bitcoin: Short near 94500-94800, short-term target 93000

Ethereum: Short near 1810, short-term target 1750