$BTC 4.9 Midday Bitcoin and Ethereum Market Analysis and Trading Suggestions

On the 4-hour chart, the price tested 72,800 twice but failed to stabilize, instead forming long upper shadows on the candles, indicating heavy selling pressure at this level and that the bulls are unable to absorb it. The candlestick pattern shows a clear sequence of consecutive declines, with bearish momentum steadily increasing. The downward trend's continuation is very likely, and there are no signs of a reversal in the short term.

Switching to the 15-minute chart, the price remains below the middle band of the Bollinger Bands, steadily moving downward along the lower band. The opening of the bands continues to diverge downward, with bearish momentum releasing in a typical stepwise fashion. Each rebound is extremely weak, and with just a slight pause, the price continues to make new lows. This pattern essentially rules out the possibility of a reversal.

Overall, whether considering the larger timeframe's confirmed resistance or the smaller timeframe's weak performance, the conclusion is the same — the bears have taken absolute control. Any short-term rebound should be seen as an opportunity to enter short positions in line with the trend. Do not expect a bottom just because of a brief pause. In the short term, the market is likely to continue downward to find support. Patience and waiting for signs of exhaustion in the rebound are recommended. #Gate广场四月发帖挑战