April 28 Trend Analysis: Bitcoin spikes high with a fakeout—will the next step be a pullback to build strength for another push higher, or will a bearish trend begin?

From a technical perspective, Bitcoin’s two attempts to break through the 80k level were both strongly suppressed. The upward-channel trend pressure gap is around 79,500, and the parallel resistance above at 80,500 remains unchanged. 80,500 was the previous stage bottom support; after breaking below it, it turned into strong resistance. Above 80,500 is the pressure from the large-period 100-day moving average near 82,000. The short-term consolidation range support is around 75,000.

From an Ethereum technical perspective, after following Bitcoin’s second surge higher this morning, it quickly pulled back by midday. The decline bottomed around 2,307 to hold the rebound. With short-term support, price then maintained a narrow range of consolidation. In the evening, the market followed Bitcoin’s last surge with another fakeout. After a weak rebound, it broke below the 2,307 support and is now probing to around 2,263, entering consolidation. The current price is again approaching the previous key long-position area near 2,250. As long as it does not break below, the prior idea of going long on dips remains unchanged.

Trading suggestions:

BTC 75,000-75,500 go long; target 77,500-79,500; defend/support level 74,500

ETH 2210-2250 go long; target 2350-2450; defend/support level 2170

The views, conclusions, and suggestions in this article are for reference only and do not constitute investment advice. There are risks in the market; invest with caution. $BTC ‌ $ETH ‌