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 one state is not enough to affect 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 of the coin 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 long and short positions is fierce!
During the day, a short strategy was given, and a small profit was taken on exit. The crypto reserve act has made me suspect that the coin price will rise again. Although there is a strong need for a pullback technically, the market is being firmly protected, and it is not falling. Bitcoin has maintained a consolidation around 95 during the day, while Ethereum is consolidating above 1,800! For evening operations, Conan still recommends mainly laying short positions at high levels, with long positions as a supplement during pullbacks! Key resistance levels to watch are 95,500, 96,000, 97,000, 98,000, and 99,500, while support levels to watch are 92,700, 91,600, 90,500, 89,000, and 87,000.
April 29 Bitcoin evening and early morning operation strategy: Aggressive traders can enter short positions at 95,300-95,800, with a stop-loss above 96,000. If it strongly breaks above 96,000, then lay in wait 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 around 92,000-91,600, and further adjustments will depend on the situation!
April 29 Ethereum evening and early morning operation strategy: Enter short positions 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 around 1,720-1,700, and hold based on the situation!
Long position strategy: Enter long positions at 91,600-92,000, with a stop-loss near 91,000, targeting around 92,500-93,000-93,500. If it breaks, watch around 94,000-94,500;
For Ethereum, refer to entering at 1,720-1,740, with a stop-loss near 1,680, targeting around 1,770-1,800, and if it breaks, watch around 1,820-1,840.
The market's expectations for a rate cut by the Federal Reserve have decreased again, and the situation in India and Pakistan has escalated. Although funds are currently intervening to stabilize prices, the degree of decline repair is insufficient. Therefore, everyone should be cautious about chasing highs. Currently, it is in a range-bound trend, and pullbacks to lay long positions can continuously move stop-losses.
