April 29 Evening, Poetry Fate Viewpoint: Key support levels for defense, short-term direction is clear!

Yesterday's overall market trend fully aligned with previous predictions, with the market gradually showing signs of weakening, but prices still held above the medium-term moving average. The 75,000 level is a critical lifeline for Bitcoin bulls; the market must stay above this level and avoid a significant breakdown.

The current short-term core trading range is locked between 74,000 and 79,500. All technical indicators are in neutral consolidation, with bullish momentum continuously waning. The market still has a need for further pullback and consolidation. The "Auntie" trend is highly correlated with Bitcoin, maintaining a high-level consolidation trend. The bullish upward momentum is decreasing in tandem, and in the short term, it is highly likely to follow Bitcoin downward.

The 4-hour chart shows very obvious weak characteristics, with the highs constantly moving lower, and each rebound is very limited. The 75,000 level is the key support for this correction, while 77,500 is a strong short-term resistance. Currently, the bearish momentum continues to be released, maintaining an overall downward consolidation pattern.

The "Auntie" 4-hour chart also shows a pattern of gradually decreasing highs, with significant resistance during rebounds. It follows Bitcoin in maintaining a weak range; after stabilizing at the lower band on the 4-hour chart, Bitcoin's price has been consecutively closing higher to recover. Currently, the price is oscillating between the 60-day moving average and the middle Bollinger Band, with the Bollinger channel remaining flat and sideways.

Bitcoin: Short positions in the 78,300-79,000 range, target 75,700-76,700
Auntie: Short positions in the 2,360-2,410 range, target 2,250-2,290
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