This weekend basically met the expected trend, with BTC continuing to fluctuate narrowly between 94K-95K overnight, dipping below 92.8K but quickly recovering. As of the time of writing, BTC is stable around 94K.
It rebounded nearly 30%, so why hasn't it built momentum for further increases? In the past two weeks, Bitcoin has rebounded nearly 30% from its lowest point, but Google search volume for Bitcoin remains low. The participation of retail investors in this round of Bitcoin's rise is not high; it is mainly driven by institutions.
The closing price of BTC's monthly line is also above last week's weekly line and the yearly line. If it can maintain above $93,600 this week, it will further increase the probability of a surge in May. Conversely, if it falls below this level, it may weaken the likelihood of a strong second half of the year. Whether it can stabilize in the coming days will provide key confidence for the market trend.
The daily and short-term lines have failed to break through the resistance level of $96,000, confirming last week's resistance area forecast. A pullback signal indicates that a short-term rise requires more momentum accumulation. Avoid chasing longs at high positions and take profits in time to avoid being trapped.
Bitcoin analysis and support level strategy for today.
On the 4-hour level, a top divergence signal has emerged; the drop this morning is in line with expectations. $92,700 is strong support; if it drops below $93,600, the $92,800-$91,600 range will be important support areas, suitable for short-term long positions. The current bullish trend is strengthening; missing the low positions ($87,000-$88,000) may result in missing a big market opportunity. Therefore, consider going long between $92,800 and $91,600.
Recent hot topic: A certain platform was heavily exploited by market makers, who also successfully withdrew funds. For details, see the article (Why did the SEC approve the XRP ETF but only pull it up by 3 points? Is BG the next Meituan? Is TA the next Federal Reserve Chairman?).
The platform has directly sent a lawyer's letter to the big profit holders, demanding the return of improper gains, or else measures will be taken. I can only say BG can't afford to play anymore; if you have coins, withdraw them quickly. Also, small-cap coins on CEX are severely controlled, with Alpaca dropping 50%; retail investors should participate cautiously.
The crypto market's 'Penguin Storm,' PENGU skyrockets 156%
Fat Penguin Token PENGU increased by 30% in one day and by 156% over the week, with a fully diluted valuation of over $1.1 billion. Its NFT series saw a trading volume surge of 242% to 2,097 ETH in one week, with the floor price rising by 20% to 11.5 ETH. Fat Penguin stands out in the Web3 track!
Looking at the K-line, recent price has risen, reaching 0.01419 before pulling back, forming a long upper shadow bullish candle, encountering selling pressure. The ecological value of the PENGU token is being validated, with advantages including cross-chain expansion, a burn mechanism, and institutional layout; risks include a 52% decline in NFT sales and increased competition.
Recent review:
SIREN
Buying at the lowest point of the wave, currently up 100%+, already doubled.
BROCCOLI714
714 continues to take off, currently up 30%, with a final target around 44.
Don't forget, OZK will announce important positive news on April 30 and May 7. You can consider buying on dips; it must be spot trading, do not use leverage.
Today's altcoin strategy:
ENA: The ideal entry point is in the price range of $0.32 to $0.33, showing good rhythm.
STX: Good profits were realized last week; if it pulls back to the vacuum area of $0.75 to $0.80, consider going long again.
SUI: Despite a large unlocking this week, the price has shown strong performance, and any negative news may have already been digested. A strong support level is between $3.35 to $3.40, which is a place to consider going long, exhibiting the characteristic of 'the strong getting stronger.'
TAO: If the price pulls back to the downward trend line around $340, consider going long.
ONDO: The current price is close to the vacuum area of $0.88 to $0.90, making it an ideal long entry point.
AXS: The chain game sector has performed blandly in this cycle, but at $2.40 there have been multiple strong supports; if it touches again, consider a short-term long position.
TRUMP: Although the fundamentals are not optimistic, there is short-term swing potential. $12 is a strong support level, and near $13.50, you could consider a risky long position.
In short, you can grasp the targets above; the 4-hour level shows opportunities for going long. I also looked at other coins; although most coins have not reversed after a short-term rebound, I still hold a positive long-term outlook. If you ask 'why,' the answer is that the bull market is still on.
May pullback consolidation, BTC target $100,000; accumulate strong coins on dips and hold until June.
