Crypto Circle Academician: Has the Bitcoin market contracted to the extreme on April 29? Breaking down = one-sided? The market is about to explode! Latest market analysis reference
Current Bitcoin price is 94,500, it is currently 3:30 AM Beijing time, Monday's market has been moving in a wide range of fluctuations. Everyone has probably taken profits on the shorts around 95,000. Currently, those holding longs above 93,500 can refer to this. Influenced by the late rally in the US market, Bitcoin has currently stretched more than 1,000 points and is still continuing to stretch. As long as it does not break 94,500 after 4 o'clock, longs can be held. If it breaks below 94,500, consider taking the 1,000 points profit first, aiming for the resistance level above 95,000 to maximize gains.
Currently, the daily candlestick has a high of 95,600 and a low of 92,700. This wide range of fluctuations has exceeded 2,000 points, so it is essential to set a good stop-loss and take precautions to prevent a one-sided market. The EMA trend indicator continues to alternate and expand upwards, showing a bullish trend on a larger scale. The EMA15 support line has already broken 90,000, and it is expected to stretch to around 92,500. The current fluctuation market remains unchanged, and once the trend line approaches the candlestick, the trend is likely to change. The MACD is starting to diverge at the top with decreasing volume, and the candlestick has not dropped significantly. The Bollinger Bands are opening up; pay attention to the resistance at 97,500 on the upper band and the support at 87,700 on the middle band.
On the four-hour candlestick, currently, after standing on the EMA30 trend line support at 93,450, it has stretched upwards and broken above EMA15. It is expected to continue expanding upwards. The MACD's top divergence is contracting, and the DIF and DEA are close to the 0 axis. If the market breaks the previous high again, the MACD will form a golden cross trend to be bullish. In the short term, when making swings, be sure to manage risk well. The Bollinger Bands have contracted to the extreme; pay attention to the upper band at 95,300 and the lower band at 93,450. This is the top and bottom position of the range; be cautious if it breaks.
Short-term thinking reference: Safety first, small losses and big profits are the goal, especially when breaking key resistance and support levels, one should stop loss and not hold on to losing positions.
For long positions, test entry point is from 93,000 to 93,500, with a stop-loss at 92,500, risking 500 points, targeting 94,500 to 95,000, if broken aim for 95,500.
For short positions, test entry point is from 95,000 to 95,500, with a stop-loss at 96,000, risking 500 points, targeting 95,000 to 94,500, if broken aim for 94,000.
Specific operations should be based on real-time market data. For more information details, you can consult the author. The article may be published with a delay, and it is suggested for reference only, risks are to be borne by yourself. $BTC