BTC April 29 Trading Strategy Analysis
Market Interpretation: Bitcoin rebounded after testing the critical 88.6% level yesterday, showing significant volatility today, making operations notably more challenging.
Currently, while the bulls dominate, the price faces clear resistance above and support below.
Investors are advised to remain cautious and avoid blind entry; focus on the breakout situation of key support and resistance levels to seek opportunities for right-side trading.
Trading Planning Resistance Strategy: Closely monitor the resistance effect in the $95,500 - $96,000 range. If the price successfully breaks through this area, consider following the trend to chase gains;
If it encounters resistance and falls back, then consider setting up a high short strategy.
Support Strategy: Pay special attention to the $94,500 - $94,000 support range.
If the price stabilizes here, consider attempting to buy on dips; if it breaks below, further attention is needed on the support strength around $93,500 - $93,000.
