4.30 Wednesday, Latest Bitcoin Market Analysis:

The price of Bitcoin surged to around 95,500 in the early hours, but faced resistance and subsequently dropped. Currently, the price has retraced nearly 1,500 points and is now around 93,800. The pullback is likely just a paper tiger, as the overall structure still indicates a period of consolidation. Therefore, the strategy should focus on low long positions.

From a broader structural perspective, this pullback is a concentrated release of bearish momentum after being blocked by high resistance above for an extended period. Coupled with the poor stock market closing, the extent of the pullback is greater compared to earlier fluctuations.

On the hourly chart, the accelerated volume of short positions in a short time frame has helped the price break below the lower boundary, with the bag mouth expanding. Both the lower boundary and technical indicators are trending downward. In the short term, there is still space below, and signs of stopping the decline are not apparent. However, as the volume of shorts reduces, the space won't be too large. Still, attention should be paid to whether the strong support level at 93,500 can hold.

BTC: Buy around 93,500, target 95,000

ETH: Buy around 1,760, target 1,820