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April 28 Bitcoin Market Outlook
Bitcoin surged yesterday but faced resistance and pulled back, with a deep plunge after hitting the high point, dropping to around 76,400. The low saw a slight weak rebound, currently consolidating around 77,300.
Reviewing yesterday’s outlook, it largely aligned with expectations. Since last night’s decline until now, we can see the rebound strength is weak, with bears dominating throughout. Additionally, the four-hour upward trend line has broken below the lower boundary, and the daily and weekly charts also show a need for a correction. Short-term rebound momentum is exhausted, with ample selling pressure above, likely continuing the downward trend.
Trading suggestion: Short at 77,600-78,000, with the first target at 76,600, and a break below to 75,500.