Wave Riding in the Cryptocurrency Sea: April 24 Bitcoin (BTC) Market Analysis Reference:

Bitcoin has increased but faced resistance and retreated, experiencing fluctuations as it tests lower support, with the overall short-term market maintaining a sideways consolidation. Observing from the daily chart, the BTC price continues to run along the upper Bollinger Band; although there has been a slight pullback after reaching a peak, it remains above the middle band, and the upward trend remains intact. The MACD indicator shows that the DIF line consistently operates above the DEA line, and although the histogram has shrunk from previous peaks, it remains positive, indicating that while bullish momentum is marginally diminishing, the overall upward trend foundation still exists; the RSI indicator currently remains above 50 in a strong zone but shows signs of a downturn, with upward momentum weakening, and the KDJ indicator has three lines clustering above 70 without forming a clear death cross, remaining in a high-level consolidation phase during the upward process. Short-term pullbacks are more inclined towards technical corrections rather than trend reversals, with the overall daily trend still leaning towards bullish; the key support area still possesses strong buying strength.

From observing the short-term hourly chart, the 4-hour Bollinger Band has narrowed, with prices running between the upper and middle bands, and upward momentum has significantly weakened. The MACD indicator's DIF has crossed below the DEA, with volume continuously turning negative; although the current price has not fallen below the short-term moving average, the KDJ indicator has formed a death cross at high levels and is diverging downwards, and the RSI indicator has retreated from the overbought area to a neutral zone, indicating that short-term bullish momentum is diminishing, and the price faces adjustment pressure. The current trend is likely entering a pullback confirmation phase, with particular attention needed on the overlap at the middle Bollinger Band and EMA20 moving average for support; if this support holds, an upward trend at the daily level is expected to continue after the adjustment; if support is broken, further downward movement may seek support, so it is advised to manage risks accordingly!

Wave Riding in the Cryptocurrency Sea: April 24 Bitcoin Short-Term Reference:

Long Position: Buy in the range of 75800-76800, with a stop loss of 500 points, aiming for 77000-78000,

Short Position: Sell in the range of 79500-78500, with a stop loss of 500 points, aiming for 78000-77000,

[The above analysis and strategies are for reference only. Please bear the risk yourself; the article review and release may have delays, and strategies may not be timely. Do not operate blindly.]

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