BTC analysis on April 28:
The performance of Bitcoin was still weak yesterday, running around 63,000 overall, with the highest intraday increase around 63,900 and the lowest around 62,400. The current price is running around 64,000!
In terms of Bitcoin ETF, Grayscale outflow is still continuing, but IBIT inflow has come to a standstill, and there is no new demand in the market. We have said before that Grayscale's chips are all low-priced. Spot ETFs provide liquidity to these chips. Their chips are all low-priced profit-taking chips. At present, Grayscale's holdings have been reduced by half, less than 300,000 pieces. It can only wait for new opportunities to inject liquidity into the market, such as interest rate cut expectations and Ethereum ETF expectations.
From the chart, the overall trend is weak at present. Whether it is the daily level or the 4-hour level, it is a downward turning trend. Combined with the poor liquidity of the market, if the liquidity cannot be stimulated upward, then it will test the liquidity downward. Be alert to the subsequent pin-in behavior. At present, the market sentiment is low, the participation is low, and the space below is not large. Even if it falls below 6w, the longs that are cleared are limited. At present, bloggers on the market have shown a consistent bearish situation. Panic is often an opportunity. This position is an opportunity to continue to deploy spot.
Intraday operation:
62000-63000 This range can be seen as a small-level support, the area where the previous round of bottoming out and rapid recovery occurred.
The upper pressure range is still the small-level pressure range of 66,000-67,000!
