April 30th Bitcoin Analysis

Intraday rally faced resistance and pulled back, maintaining a high-level but weak oscillation pattern overall, with prices hovering around the 76,000 range.

The market previously encountered resistance at the previous high point, with bullish momentum continuously waning. The four-hour technical indicators have formed a death cross, indicating a clear short-term correction need.

On the macro level, the expectation of interest rate cuts has cooled down, and a strengthening dollar has exerted pressure on the coin price. Profit-taking at high levels has intensified, leading to short-term volatility. Fortunately, spot institutional funds continue to flow in, and long-term holdings remain solidified, forming a bottom support.

In the short term, the market mainly consolidates within a range, with core support around 75,000 and key resistance at 77,200. Trading should primarily rely on the range for buying low and selling high, with strict risk control to avoid volatility risks.

Support at around 75,000, defense at 74,400, target at 77,000.