April 29 Midday BTC Public Outlook: Under Pressure Downward Weak Consolidation

Market Situation
Yesterday’s high levels continued to weaken under pressure, falling below key support levels in the evening, with the weakness extending into the day, currently around 76,400. Short-term bearish momentum persists, and the downward pace is relatively fast. The larger bullish structure is beginning to weaken, indicating a deep correction and shakeout.

Key Range (Current price 76,400)
Resistance above

1. 76,900-77,100 (Short-term intra-day resistance, continued weakness if rebound fails to break through)

2. 77,500-77,700 (Strong resistance zone, volume needs to stabilize above to ease the bearish trend)

Support below

1. 76,000-76,200 (Short-term defensive support, stabilization could allow for light long positions to play the rebound)

2. 75,400-75,600 (Strong support zone, a pullback that does not break below is the best area for low-entry buying)

Short-term Judgment
• 4-hour timeframe: Bearish volume continues to increase, moving averages are turning down, short-term weak structure is obvious
• Hourly chart: Bearish dominance is complete, rebound strength is very weak, resistance holds, and the trend remains bearish
• Daily chart: Reversal from high levels, closing in the red, bullish momentum weakening, mainly a correction for recovery in the short term

Operational Suggestions

1. Rebound Short: Lightly short on rebounds to 76,900-77,100, stop loss at 77,400, target 76,200-76,000

2. Stabilize and Go Long:
◦ After stabilization around 76,000-76,200, attempt to go long, stop loss at 75,700, target 76,800-77,100
◦ If a pullback to 75,400-75,600 stabilizes, add to long positions, target 77,500-78,000