Wednesday, April 29th, Wednesday Afternoon Zhongling BTC/ETH “Silk Dew Sharing”: the weak pattern remains unchanged—continue to look for a decline

In the morning market, after Bitcoin found support around 76,100, market sentiment improved somewhat. Prices rebounded all the way, breaking through the 76,700 resistance level, and are currently stabilizing around 77,000.

From the 1-hour chart, the price has already broken below the rising channel. The overall trend remains weak, with upside and downside momentum frequently switching, making it difficult for rebounds to change the downward pace. The 4-hour chart shows the channel narrowing: price is capped by the upper band, bullish momentum is insufficient, and it is in a weak consolidation box. The moving averages also show no sign of reversal, and smaller timeframes similarly indicate downside pressure. Therefore, even if price spikes in the short term, it is very likely to pull back. For trading, stick to the idea of shorting at high levels.

Trading recommendations
Short “Big Cake” (BTC) in the 77,200–77,700 range, target 74,900
Short “Ether” (ETH) in the 2,340–2,360 range, target 2,220
$BTC $ETH #加密市场小幅下跌 #伊朗提出霍尔木兹海峡重开协议条件