4.28 Monday Evening Bitcoin and Ethereum Market Analysis and Trading Suggestions

The market is like a chess game, and the way to break the situation lies in the precise grasp of momentum and timing! In the afternoon, the market showed a pattern of fluctuating upward movement, with Bitcoin reaching a high of 94841 before slightly retracing to 94259, and then rebounding strongly again to a high of 95186. This rebound provides a good entry opportunity. Ethereum followed Bitcoin's trend, rebounding after testing the support at 1787 and also rising to a high of 1823.

Recently, Bitcoin prices have been on the rise; however, on the daily level, its upward momentum is showing signs of weakening. The current price is at a relatively high level, and after reaching previous highs, there have been multiple occurrences of pullbacks, which clearly indicate strong selling pressure above. Observing the Bollinger Bands indicator on the daily chart, the opening shows signs of contraction. After touching the upper band, the price failed to sustain upward expansion and instead oscillated around the middle to upper band area. The contraction of the Bollinger Bands indicates that price fluctuations will tend to converge, and considering the current price level, there is a high likelihood of a downward adjustment in the future. Switching to the 4-hour candlestick chart, Bitcoin prices show a clear oscillating pattern, with highs continuously decreasing and lows also tentatively moving down. This pattern clearly demonstrates that bulls are gradually losing dominance, and bears are beginning to exert pressure on the price, with a bearish outlook dominating the evening.

Bitcoin: Short near 95500, short-term target 93000

Ethereum: Short near 1825, short-term target 1750