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April 29 Evening Bitcoin Market Outlook
Bitcoin continued to weaken in the afternoon, with the rebound still limited, and the evening market continued to decline and fall back, currently maintaining low-level oscillation.
The rebound strength continues to weaken, with no momentum for the bulls to support, and the bears' momentum continues to be released. The market is firmly controlled by the bears throughout, and the downward trend has not changed at all. Overall, it remains a pattern of rebound facing resistance and weakening after encountering obstacles. Evening operations continue to focus on high shorting during rebounds, with only ultra-short-term light long positions at low levels for tentative speculation.
Short-term bearish momentum continues to increase, with layered selling pressure piling up above. The risk of bottom fishing and chasing longs at low levels is extremely high. The market is likely to continue its weak downward trend, testing lower support levels again.
Trading Suggestions
Short at the rebound zone of 76,600-77,100, with the first target at 76,000. If broken, continue to watch for 75,500.