April 27 Golden Bull Market Analysis

The breakdown of US-Iran talks and negotiations has once again heightened geopolitical tensions. Although short-term risk-averse sentiment may provide some support to the Golden Bull, the practical boosting effect is very limited.
On the other hand, expectations for Federal Reserve rate cuts continue to cool down, and the US dollar and US Treasury yields remain at elevated levels. These two continued negative factors keep exerting pressure, directly limiting the rebound strength of the Golden Bull.

This week marks a super data week, and market volatility is bound to intensify. On Thursday, the Federal Reserve’s interest rate decision meeting is the most important event of the week. At present, the market broadly expects that interest rates will be kept unchanged, with the subsequent core focus squarely on Powell’s remarks and stance. If hawkish comments about maintaining high long-term interest rates are released, the Golden Bull’s short-term price action will face pressure and weaken.

From a technical perspective, the daily Bollinger Bands are overall trending weakly. The upper band keeps moving down, forming a key strong resistance, while the lower band is only slightly flattening, and the channel shows a bearish-opening pattern. As of now, bearish momentum has not been fully released, and there is still room for prices to fall. For short-term operations, the main strategy is to trade in line with the bearish trend.

Golden Bull trading approach:
Buy on rebounds in the 4725-4740 range; position on the dip; look for 4680 and then 4620 target levels below. $BTC $GT #加密市场行情震荡