The Arizona BTC Strategic Reserve Act has been passed, making it the first state to recognize the status of crypto assets. Although the purchasing power of a single state is not enough to influence price trends, the symbolic significance is greater than the actual significance. Where there is one, there will be a second!
The liquidation map shows that if the price breaks through 97,500, nearly 1.5 billion USD in short positions will be liquidated, and if it falls below 90,000, over 2 billion USD in long positions will be liquidated! The competition between bulls and bears is fierce!
I have already given a short-selling strategy today and made a small profit by exiting. The crypto reserve act has made me suspect that the price may rise again, although the technical indicators have a strong need for a correction, the market is being firmly supported and cannot fall. Bitcoin has maintained a consolidation around 95, while Ethereum is consolidating above 1,800! For evening operations, Conan still recommends primarily placing short positions at high levels, with long positions as a supplement! Key resistance levels to watch are 95,500, 96,000, 97,000, 98,000, and 99,500, while support levels are 92,700, 91,600, 90,500, 89,000, and 87,000.
April 29 Bitcoin evening and early morning trading strategy: For aggressive traders, enter short at 95,300-95,800, with a stop-loss above 96,000. If it breaks strongly above 96,000, then enter at 96,500-97,000 with a stop-loss near 98,000, targeting around 94,500-94,000-96,000-92,700. If it breaks, watch for around 92,000-91,600, and if it breaks further, reassess!
April 29 Ethereum evening and early morning trading strategy: Enter short on a rebound at 1,830-1,850, with a stop-loss near 1,880, targeting around 1,800-1,770-1,750. If it breaks, watch for around 1,720-1,700, and if it breaks further, hold and reassess!
Long position strategy: Enter long at 91,600-92,000, with a stop-loss near 91,000, targeting around 92,500-93,000-93,500. If it breaks, watch for around 94,000-94,500;
For Ethereum, reference entering at 1,720-1,740, with a stop-loss near 1,680, targeting around 1,770-1,800, and if it breaks, watch for around 1,820-1,840.
Market expectations for a Federal Reserve interest rate cut have lowered again, and the situation in India and Pakistan is escalating. Although current funds are intervening to support and the price cannot fall, the extent of the downward correction is insufficient. So everyone should be cautious about chasing the rise. Currently, it belongs to a range-bound volatile trend. A pullback to enter long can continuously adjust stop-loss to protect profits.
