April 29 Evening Analysis: Bollinger Bands Tightening Under Pressure, Focus on High-Altitude Rhythm Points

Looking at the four-hour cycle chart, Bitcoin's previous rally lacked strength, facing strong resistance at the 77,500 level and falling back. The bullish momentum is clearly overextended, and subsequent rebounds have struggled to break through key resistance. Overall, it remains in a high-level sideways consolidation pattern, with the Bollinger Bands tightening and flattening. The upper band exerts strong pressure on the price, preventing further upward expansion. The bullish momentum is gradually exhausted, indicating a top-building phase at high levels, preparing for a correction as bears release pressure. The rapid upward trend is unlikely to continue.

In terms of short-term technical patterns, the MACD remains in a death cross, with bearish momentum slowly accumulating. Rebound volume remains weak, with each rally accompanied by selling pressure. The KDJ indicator is turning downward from a high level, entering a weak downward channel. The bullish support on the chart is weakening, and the 77,500 level repeatedly faces resistance without breaking, forming a strong pressure platform. Multiple resistance layers stack above, while bearish momentum gradually gathers, ready to trigger a decline correction. Evening trading strategy centers on shorting on rebounds, avoiding chasing longs, and only trading short positions under resistance.

Trading Suggestions

Short on rebounds between 77,500 and 78,000 in stages
First target 76,500
Second target 76,000