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4.28 Tuesday | Mufeng Evening Market Analysis
On Tuesday, Bitcoin continued to weaken intraday, remaining trapped in the 76,000-77,000 range with sideways downward movement, with the bulls suffering a complete defeat and losing all momentum for a rebound.
The market repeatedly tested rebounds but was unable to stabilize above the key resistance level of 77,000, which indicates that buying enthusiasm among bulls is extremely weak, and the main force has no intention of pushing higher. The bear control pattern is now clear. With no hope for an upward breakout and the trend leaning bearish, current operations should focus on capturing profits from declines.
Short-term trading strategy
BTC: Enter short positions directly between 76,500—77,000, with a target of 74,900
ETH: Range trading short positions between 2,290—2,310, with a downward target of 2,180