Master Discusses Hot Topics:

The market trend is really different from what everyone expected. Previously, many believed that if the strong stocks fell, Bitcoin would not only hold up but also rise against the trend. However, last night, the strong stocks rose by more than 2%, while Bitcoin not only failed to follow suit but instead experienced slight fluctuations.

Today is the last trading day of the week, and next week we will start to speculate on GDP. The latest GDPNow data has lowered the forecast for the U.S. first-quarter GDP, which is a significant indicator for the trading difficulty in May.

Bitcoin's recent performance has indeed been a bit laid-back. Although the price has seen a slight pullback, investor sentiment remains quite stable, with no major ups and downs. The turnover rate has decreased, indicating that trading enthusiasm is not high.

For the medium to long term, the support level at 83k still seems a bit precarious. The main reason is that this level has not undergone a significant washout, making its foundation unstable. Moreover, more and more people are accumulating positions in the range of 93k to 98k, and these individuals are quite patient.

Especially for investors who didn't sell at 74k, they are now even more composed, meaning they are not short-term players. Currently, Master has two hypotheses: if 95k is the peak of this rebound, then the next phase will likely oscillate for at least two weeks. The price will consolidate around this area to shake out the weak hands.

If 95k is not the peak or if the peak has not yet been reached, then the oscillation period may be longer, with the price testing upwards while oscillating. However, don't expect a rapid surge, as it will be a slow grind that can wear you out.

Regarding the current situation, Master has a few points to clarify. First, do not try to short at the peak. If you want to catch the top and then go all in on short positions? That's foolish, brother; the timing is wrong, the structure is wrong, it's too early, and trend-based shorts have no chance right now.

Secondly, it’s time to return to short-term trading. The wave of market movement starting from 75k was a good time for long positions, and everyone made good profits. But now? The structure is gone, and it has turned into a short-term trader's market. Quick in and out, don’t get attached.

Starting next week, GDP data will become quite important. GDPNow has already lowered its expectations, and if the official data disappoints, strong stocks may shake a bit, but how it plays out will depend on emotional transmission.

However, as it stands, Bitcoin investors seem quite calm, and a collapse is unlikely. Focus on short-term trading, keeping an eye on the support at 83k and the resistance between 93k and 98k; don’t always bet on the trend!

Master Looks at Trends:

Resistance Levels Reference:

First Resistance Level: 94700

Second Resistance Level: 94000

Support Levels Reference:

First Support Level: 92500-92800

Second Support Level: 91900

Today's Suggestions:

Bitcoin is currently attempting a complete trend reversal. Especially within the price rebound range, if the price can gain buying support after the consolidation and does not break below the previous low, a stepwise increase can be expected.

Additionally, the key is whether the current price can remain stable and not break below the important previous lows. This is also an important basis for judging the continuity of the trend.

Prices at round numbers like 93K and 94K may form psychological resistance. Within the price rebound range, a temporary pullback may occur in the psychological support area.

If the price successfully breaks through the first resistance at 94k, the target can be adjusted to 94.7K. Before reaching 95K, 94.7K is an important resistance level. If a slight adjustment occurs at this time, it may provide an opportunity for further upward movement.

Yesterday's 92.5K is an important support level. As the chart shows a rebound trend, the support should also be adjusted to the range of 92.5 to 92.8 to better set the risk-reward ratio for risk management.

To maintain the current rebound momentum, it is best for the price to hold the range of 92.5 to 92.8. If it breaks below this range, it may drop to the previous low of 91.9K formed yesterday. In a low trading volume situation, this low point can serve as an ultra-short entry opportunity.

4.25 Master’s Swing Trading Reference:

Long Entry Reference: Light long positions in the range of 91900-92500, Target: 94000-94700

Short Entry Reference: Not applicable for now

This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). For more real-time investment strategies, solutions, spot trading, short, medium, and long-term contract trading techniques, operational skills, and knowledge about candlesticks, you can join Master Chen for learning and communication. A free experience group for fans has been opened, along with community live broadcasts and other quality experience projects!

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