April 29 Morning Silk Road and Recommendations

From a four-hour chart perspective, Bitcoin has experienced a previous surge to a high level, followed by a series of continuous pullbacks and adjustments. The price has been steadily declining from the high point, then found support at a low level and started a slight rebound with sideways consolidation. Currently, the price is in a weak correction phase after falling from the high, showing some signs of stabilization in the short term, but no clear reversal signals have appeared yet.

In terms of rhythm, the previous upward trend was broken after a volume spike and long bearish candle at the high, followed by several candles continuing to decline, indicating that the bearish force is concentrated at the high levels. Although the downward momentum has weakened after reaching a low point, with small-bodied recovery candles appearing and support strength showing up below, the market has 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 during the decline, with further downside possible. Only if it can break above the resistance zone can the current weak pattern be potentially reversed.

In terms of trading, it is currently advisable to adopt a cautious and slightly bearish approach, focusing on the upper resistance zone and lower support zone. Before effectively breaking through the range, avoid blindly chasing longs. Follow the short-term trend with light positions and wait for a clearer direction before adjusting the strategy.

For Bitcoin, consider a light position if it rebounds to around 77,000-76,500, with a target of 75,000. If the upper resistance is broken and invalidated, timely adjustments should be made.
For Ethereum, consider a position if it rebounds to around 2,320-2,300, with a target of 2,250.
In any case, follow Bitcoin's movements.
The above is just personal advice; please follow Sister Lin's layout for specific strategies. $BTC