April 29 Market Analysis: Reviewing Yesterday's Trend, the price explored a low of 92800 in the morning, and after that, the one-hour chart continuously closed with 11 bullish candles indicating a strong rebound;
In the evening, it tested the support level at 93500, and the final daily close was bullish, showcasing strong market characteristics.
On the daily chart, the 10-day moving average has crossed above the 120 and 180-day moving averages, forming a bullish arrangement, and the price tested the 5-day moving average confirming support. From the trend perspective, bullish momentum is sufficient, and it is expected that the probability of closing bullish in the next two days is relatively high.
The four-hour chart shows that each time the price touches the lower Bollinger Band, it quickly rebounds to the upper band, indicating that buyers are dominant in the high-level fluctuations.
On the intraday short-term level, after the 15-minute K-line tested the Vegas channel, it rebounded quickly; if it can stabilize above the middle track of the channel, it is likely to drive the one-hour level to continue upwards. Additionally, the one-hour MACD indicator formed a golden cross twice above the zero line, further strengthening the upward continuity.
The suggested trading strategy is to buy on dips and patiently wait for a key breakthrough at the daily level. In terms of key levels, the upper resistance level is at 94900-95500, while the lower support level is at 94150-93500.
