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$BTC Evening trading ideas for April 29
Yesterday's market trend fully aligned with expectations, with the overall pattern gradually weakening, prices still holding above the medium-term moving average, and 75,000 remains the lifeline for the bulls, unable to effectively break below. In the short term, the major range is locked between 74,000 and 79,500, with various technical indicators showing neutral oscillation. The bullish upward momentum continues to weaken, and the market still has a need to revisit and consolidate.
Ethereum's movement follows Bitcoin's trend, oscillating and resting at high levels, with bullish strength decreasing in tandem. In the short term, it is highly likely to follow Bitcoin downward in sync.
Bitcoin's daily chart closed with a downward candle, rebounding from the Bollinger middle band support, continuing to oscillate upward within the day. The Bollinger bands are narrowing and flattening overall, with short-term moving averages applying downward pressure. The MACD has a dead cross and is heading down, with the bearish green histogram continuing to expand. KDJ is also moving downward, with key focus on the 50,000 level for support strength. The VR indicator remains steady around 180, and market sentiment for long positions continues to cool.
Bitcoin's 4-hour chart shows a clear weakening trend, with highs gradually decreasing. Each rebound is limited in strength. 75,000 is the key support for this correction, while 77,500 is a short-term strong resistance. Bearish momentum continues to be released, maintaining a predominantly oscillating downward pattern. Ethereum's 4-hour chart also shows gradually decreasing highs, with significant resistance during rebounds, following Bitcoin's weak oscillation within the range. Bitcoin's 4-hour chart has stabilized at the lower band with consecutive bullish candles, currently oscillating between the 60-day moving average and the Bollinger middle band, with the Bollinger channel moving sideways and flat.
Short-term trading suggestions remain to go short at high levels:
Bitcoin 78,000 to 79,000 short target 75,700 to 76,700
Ethereum 2360-2410 short. Target 2250-2290