"April 24 Market Analysis: Recreating a Top on the Daily Chart? Friday is the Decisive Battle!"


Yesterday, we supported Bitcoin at 76,500, which was pierced and then rebounded; in the evening, we also chased longs with B friends up to 78,500. Currently, Bitcoin's small timeframe is gradually showing convergence and has a tendency to move downward. Therefore, today's Friday market might be a potential decisive moment; if the daily candle closes bearish today, Bitcoin's consecutive daily gains will fail, returning to narrow-range consolidation. If the daily candle closes bullish today, the weekend may see extended trading, continuing the upward push.
So, if Bitcoin is to start moving upward, today Friday must not close bullish; otherwise, it will need to test the midline again to complete the narrow-range consolidation pattern. The market makers are here to wear down retail traders' patience, and they are doing it very effectively!
$BTC Today's Bitcoin market depends on how this small timeframe's convergence chooses its direction. If it goes down, support is at 75,800 and 75,200; if it goes up, resistance is at 79,100 and 79,800. Both resistance levels are likely to be touched!
$SOL Keep an eye on this 86.3 level; when it moves up, it’s obvious that the bullish momentum can reach the 88.5 resistance level. Support below is at 83.5 and 81.5.
$ETH For Ethereum, focus on the 2,335 level on the hourly chart—when it can close above this level, it indicates a bullish signal. Support is at 2,270-2,260. After breaking above 2,335, watch the 2,393 level for resistance; further up, it’s around 2,440.
In summary, Bitcoin's current market is at a decisive juncture. At this crossroads, both bullish and bearish views are valid, but only after the daily candle closes can we get the answer. So, there’s no other way—don’t exhaust your patience; wait patiently and participate in the market!
BTC-0,55%
SOL-0,54%
ETH-1,48%
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PeonyMemo
· 1h ago
Friday's closing is indeed a watershed moment. Before the close, I was treating it as a fluctuation, keeping my position smaller.
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StarrySkyEarnsOneHundred
· 1h ago
Keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going
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FrictionlessFred
· 1h ago
Convergence ends usually show direction, but I'm more concerned about the absence of volume. Without volume, don't expect a surge in the market.
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FrontrunTherapy
· 2h ago
The support and resistance levels are quite clear now. I plan to buy in batches between 75,800 and 75,200. If it breaks, I'll admit defeat and walk away; don't fight the market.
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GateUser-e3701961
· 2h ago
ETH 2335-hour chart, is it able to break above a critical level? Breaking above could see 2393/2440, if not, it will continue to consolidate around 2270.
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GlassDomeObservatory
· 2h ago
76500 this support level is really critical, the rebound after inserting the pin has a bit of a vibe.
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GateUser-739338fe
· 2h ago
SOL 86.3: If it holds steady, I’d also look at 88.5. The problem is that right now, the copycats flinch and get scared just by following Bitcoin.
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GateUser-4eae4cef
· 2h ago
I'm also watching the resistance levels at 79,100/79,800 above BTC. If it really moves up, it’s likely to be a false breakout first, followed by a pullback.
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