April 29 Afternoon Bitcoin Market Outlook

Bitcoin continued to fluctuate at high levels and then declined in the afternoon, with rebound strength still limited. The subsequent trend is likely to continue weakening and testing lower levels. Currently, it remains in a range with a slight bearish tendency.

Rebound momentum continues to weaken, bulls lack strength to support, and bears' momentum begins to be released. The market is firmly controlled by the bears throughout, and the short-term correction trend has not changed. Overall, it remains a pattern of rebounds facing resistance and weakening upon encountering obstacles. Tonight's trading strategy continues to focus on shorting high rebounds, with light positions for ultra-short-term long attempts at low levels.

Short-term bearish momentum continues to increase, with layered selling pressure building from above. The risk of chasing longs at low levels is very high. The market is likely to continue its weak downward trend, testing lower support levels again.

Trading Suggestions
Short at the rebound between 77,300-77,800, with the first target at 76,500. If broken, continue to watch for 76,000 → 75,500.