April 27 Evening Analysis

After this sharp decline, the market has already shown clear signs of stabilization. The price quickly dropped from the high of 79,455 to the low of 77,408, and the concentrated selling pressure has been fully released. Subsequently, the decline did not continue, but instead formed a narrow range of oscillation between 77,500 and 77,800, with strong buying support below, and short-term selling pressure has been digested.

Currently, the price is operating near the middle band of the Bollinger Bands, with MA7 and MA30 moving sideways in unison, forming a short-term support zone that effectively underpins the price. The Bollinger Bands' upper and lower bands are continuously converging, and the price rebounded from near the lower band back to the middle band, indicating that a technical correction after overselling is underway, with a significantly higher probability of an upward breakout than a continued breakdown.

The MACD indicator has turned upward at a low level, with DIF and DEA gradually forming a golden cross, and the MACD value has turned positive, indicating that the bearish momentum has been exhausted, and bullish energy is continuously accumulating, providing momentum support for a short-term rebound.

Overall, this round of sharp decline has completed the concentrated release of emotions and risks. The stabilization and subsequent oscillation are part of a technical correction. Coupled with the support from moving averages, the convergence of Bollinger Bands, and the MACD turning point signals, there is sufficient momentum for a short-term rebound. The first target above can be around the Bollinger Band upper band near 77,950-78,000. If a volume breakout occurs, it may test the previous high.

In terms of operation, it is advisable to rely on the current oscillation support levels to set up long positions, with 77,400 below as a stop-loss point, entering in batches without chasing highs. Keep some buffer for additional entries around 76,500-77,400. The initial target is around 78,400-79,400. #BTC #ETH #加密市场反弹