April 29 Morning Thought Sharing

Looking at the four-hour chart, Bitcoin has experienced a prior surge to high levels, followed by a series of continuous pullbacks and adjustments. The price has been steadily declining from the high point, then found support at lower levels and began a slight oscillation and recovery. Currently, the price is in a weak correction phase from the high, with short-term signs of stabilization, but no clear reversal signals yet.

From the rhythm perspective, the previous upward trend was broken after a volume-increasing long bearish candle at high levels. The following several candles continued downward, indicating that the bearish force was concentrated and released at high levels. Although the decline slowed after reaching a low point, with small-bodied recovery candles appearing and support forces showing up below, the market entered a brief balance period. However, the overall downward structure has not been completely broken. In the short term, if the price cannot hold above the current key level, the rebound and correction are likely just a consolidation within the downtrend, with further downside possible. Only if it breaks above the upper resistance zone can the current weak pattern be potentially reversed.

In terms of operation, adopt a cautious and slightly bearish approach for now, focusing on the upper resistance zone and lower support zone. Do not blindly chase longs before effectively breaking through the range. Follow the short-term trend with light positions, and wait for clearer direction before adjusting the strategy.

Bitcoin trading strategy: Short near 77,000-76,500, target 75,000
Altcoin trading strategy: Short near 2,320-2,300, target 2,250