Yueying: Bitcoin and Ethereum Market Analysis for April 29th - Is Powell's Last Dance? Interest Rate Decision: A Tumultuous Week

Bitcoin's daily chart shows a rebound after finding support near the middle Bollinger Band following a previous bearish close. Intraday trading opened with upward fluctuations. The Bollinger Bands are flattening and narrowing, while short-term moving averages are turning downwards. The MACD fast and slow lines have crossed downwards, and the histogram is turning green with increasing volume. The KDJ is trending downwards, so watch for support around the 50 level. The VR indicator is consolidating around 180. On the 4-hour chart, the price rebounded after finding support at the lower Bollinger Band, currently trading around the 60-day moving average and the middle Bollinger Band. The Bollinger Bands are flattening, and short-term moving averages are parallel. The MACD fast and slow lines are turning upwards with decreasing volume. The KDJ is trending upwards, so watch for resistance around the 100 level. The VR indicator is consolidating around 90. Overall, the price action was met with resistance and pulled back, but didn't break 75,000, so the price action is within expectations. Currently, it has only slightly broken the upward channel trendline support. The next rebound will depend on whether it can break through and stabilize above the trendline. If it can, it will return to the upward channel and potentially reach new highs; otherwise, it will likely oscillate downwards and retest short-term support. Tonight's interest rate decision and subsequent speech by Powell will likely cause significant market volatility; please be mindful of risk management. This might be Powell's last day at work; let's see what he says. Short-term resistance is around 79000, with support around 75000. See short-term suggestions. Bitcoin short-term suggestion: Short at 78500, Long at 76200 (Take profits as needed). Ethereum's 4-hour candlestick chart is currently trading around the middle Bollinger Band and the 60-day moving average. A successful breakout and stabilization could indicate further upside potential. The overall technical trend is similar to Bitcoin. Short-term resistance is around 2400, and support is around 2200. See short-term suggestions. Ethereum short-term suggestion: Short at 2380, Long at 2260 (Click the image to see the homepage introduction for more cryptocurrency analysis). —I am Zhou Yueying.