Bitcoin Short-term Strategy (4.29)

Good evening everyone. This afternoon, I looked at the market and saw that everyone is going long, with the bears being slightly fewer, and most believe the price will rise. Therefore, it likely won't rise too much and may even reverse. Currently, in the 4-hour chart, Bitcoin has retraced once again last night, making it a total of two retracements. If it rises again and does not break 96,000, then this retracement is likely coming to an end. We also need to adjust our pending orders because the retracement is relatively low, and the bulls below are quite aggressive. The KDJ indicator on the 4-hour and daily charts is still at a high level and unable to drop, but the upside is limited, and there is a bit more space below. Everyone can adjust their pending orders to short around 96,500-97,200, as Bitcoin has been consolidating around the 95,000 resistance level for several days. This resistance at 95,000 will be gradually absorbed, similar to a horizontal movement instead of a drop. Entering a short position near the ice line at 96,400 has a relatively good defense. If it breaks the previous high, everyone can exit. The fluctuation range is quite large, so I recommend that everyone enter with a primary position short and leave some space for additional orders, with a stop-loss just above the previous high. The target remains unchanged at 91,500-88,000!