4.30 Bitcoin Trend Analysis Starts Today, the market curse of "falling whenever there is a meeting" is likely difficult to break, and Bitcoin is expected to face a wave of downward correction, which is precisely a good opportunity to enter the market. Investors should not miss it.
From the hourly trend perspective, the morning presents a volatile downward trend, and the afternoon market shifts to a volatile upward trend. However, during the late hours of the U.S. stock market, specifically in the early hours, Bitcoin's price experienced a rapid decline. Currently, the volatility at the hourly level has significantly increased, which usually indicates that the volatility at the daily level is also about to intensify.
Further from a technical analysis perspective, the trends at the 1-hour and 2-hour levels have difficulty supporting Bitcoin's current oscillation pattern at a high level, and at this stage, it mainly relies on the momentum of the 4-hour level to maintain.
From the perspective of the health of the trend, the price needs to pull back to the support levels of the 4-hour or 8-hour level before moving upwards, which is more robust. The expected pullback position is in the range of $92750 - $90300.
At the daily level, there are two key strong support levels. The first is the MA120 line, corresponding to a price of $91680; the second is the daily MA30 line, currently at $86470.
However, the MA30 line is quite far from the current price, and the possibility of a significant drop in price to that position in the short term is low. Subsequently, the MA30 line will continue to rise, gradually approaching the current price.
It is worth noting that the upward trend at the weekly level has already been established. Based on this, every pullback is an excellent opportunity to enter the market.
In terms of resistance and support levels, the daily resistance levels are $96188, $99700, and $102044;
The support levels are $91680, $88950, $86120, and $82880. Investors can plan their trading operations reasonably based on these key points combined with their risk tolerance and investment strategies.