April 29th, Wednesday Midday Market Outlook Analysis

After the market structure surged higher, it entered a pullback and correction phase. Although the upward push didn’t reach the expected level of strong momentum, the pullback has been relatively weak and consolidating in a sideways, ranging pattern. Overall, the market is clearly biased toward a bullish setup. At present, the upward trend that is being repaired and restored is still continuing; this week’s overall outlook also remains unchanged—still favoring the idea of bullish continuation with further upside.

On the daily timeframe, after a prolonged period of consolidation in a box/range, price effectively broke upward out of that range. This also caused the price movement channel to shift upward in sync, opening up more room for upside. Bullish volume continues to expand and arrange itself in an orderly manner, and all moving averages turn upward at the same time. At the moment, the market is operating within a recovery-and-upward rhythm. The strong rally pattern is clear, and the advantage of the bulls is very evident. In terms of execution, the main approach is to set up long positions on dips.

Bitcoin trading reference: long below 77000, target 78200—79200.
Ethereum trading reference: long below 2320, target 2375—2425. $BTC