Wednesday, April 22nd Midday Market Analysis.


After this wave of sharp upward movement, the market has already shown clear signs of shorting.
The price experienced a strong rally, reaching a local high, then quickly formed an upper shadow, indicating that selling pressure above is being released.
After a volume-driven rise at high levels, subsequent support is clearly lacking, and the bullish momentum is mainly short-term energy release, lacking sustained buying power.
From the 1-hour structure, after the price touched the upper Bollinger Band, a slowdown signal appeared, and upward momentum began to weaken.
During the repeated oscillation at high levels, the bearish force is gradually accumulating.
At this point, setting up for a short position follows the rhythm of “resistance at the high,” waiting for the bulls to exhaust their strength and then catching the pullback, which is a typical trend-following strategy.
BTC trading suggestion: Short around 77,700, target around 76,700, stop loss at 78,600
ETH trading suggestion: Short around 2,385, target around 2,340, stop loss at 2,430#比特币反弹 $BTC
BTC-0.91%
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