April 23 Morning Analysis

The market peaked at a high point and then pulled back; the price has already effectively broken below the key watershed of the Bollinger middle band, and the middle band has completely flipped into strong resistance above. The bullish upward structure is temporarily falling apart.

The focus of the current market continues to move downward; it has been running throughout in the weak downward range between the middle and lower bands. Selling pressure overhead is heavy, and the bullish counterattack lacks strength. The MACD double lines remain below the 0 axis and are running in a dead cross; the bearish green histogram has sufficient momentum, and bearish sentiment fully dominates the market.

Every rebound is an excellent opportunity to short at high levels. During the rebound, with resistance facing the 79,400 area, directly place short orders. First, look at the 78,000 support below; once it breaks, it will open up a deep downward space in line with the trend. Going forward, the bias will mainly be bearish. YiFan’s personal suggestion: around the 79,200–80,000 area, with the target first at 78,000. If it breaks, look at the 77,000–76,500 area.$BTC $ETH $RAVE