$BTC

April 29th Bitcoin current trend analysis and intraday forecast:
BTC: The daily chart shows two consecutive bearish candles with moderate increasing volume, with the price oscillating around 77K. Yesterday’s closing price broke below the 14-day moving average, and overall remains in a high-range consolidation between 75K and 79K, with upward momentum further weakening. The short-term MA7 is beginning to turn downward, while MA14 is flattening, shifting from support to resistance; MA30 (73.5K) continues upward, providing key support; MA90/180 still trend downward, indicating the medium-term bearish trend remains unchanged, with rebounds suppressed by upper moving averages. Volume has consistently failed to break above the upper boundary of the consolidation at around 79K, showing insufficient buying momentum, while recent two-day decline has been moderate with increased volume, indicating strong selling pressure above and weakening bulls. The MACD indicator has crossed below the zero line and diverges downward, with the negative histogram expanding, signaling weakening bullish momentum and ongoing bearish pressure. The short-term direction is imminent.
Going forward, the market will likely continue oscillating within the 75K-79K range, with the window for trend direction narrowing. If volume increases and breaks below 75K support at the lower boundary of the box, the risk of a second bottom will be confirmed, and the market will re-enter a sideways downward channel, potentially dropping to 70,000 or even previous lows. Currently at a critical point between bulls and bears, once a trend reversal signal triggers, volatility will rapidly amplify. Caution is essential at high levels.
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