Last night, the analysis was released around 11 o'clock, and the market was still hovering around 70,000. We reminded that on 24/04/12, BTC had a short-term up and down trend, and the imminent pressure could not be broken through. Will there be a significant drop during the halving period? Today, the lowest point reached 65,000. In about a week, Bitcoin dropped by 10%, and as for Ethereum, we said that as long as it couldn't break through the price of 3678 for a day, the potential for a C-wave decline was unavoidable, and it dropped by 16.9% in a few days. As for altcoins, it's needless to say that they are weak and dropped by 30-50%.

On April 8th, we reminded that there were 12 days left until the BTC halving, and it was under pressure below the converging triangle. It's a time to reduce positions, wait for opportunities to buy the dip! On April 10th, we reminded that there was a false breakout of the converging triangle for BTC, and the risk continued to increase before the halving. We were waiting for medium to long-term layout opportunities. We also reminded to fill the gap at 68,000-69,000, and after the rebound, it was under pressure at 71,305, and then continued to decline.

Bitcoin has repeatedly lowered its high points, and the previous low points have continued to rise, and there have been false breakouts. Is it a buying opportunity or will it continue to decline? My view is to continue waiting and not rush to buy the dip. Will there be a black swan event? In my opinion, even if it continues to decline and falls below 60,000 to 53,000, it is a normal correction. However, for many people who don't understand or unscrupulous media, it will definitely be reported as a black swan. Our buying plan has also reminded to proceed according to the plan. As for Ethereum, we are looking at even lower levels.

Bitcoin
High-level triangles are used to break through rather than break out. Yesterday, we also analyzed the historical high-level stage. The rebound after the breakthrough is the entry opportunity we should consider. The price line has been oscillating around the MA20, approaching the MA60. The first buying opportunity is to open a position at 60,775-63,000, and the second buying opportunity is to add to the position at 53,000-56,000. The range is relatively large and only suitable for spot trading. We have always been playing spot trading, so don't use our mindset to buy contracts. It requires a more precise position.

The daily MACD showed a bullish divergence a week ago, but the market did not effectively break through the high point. Now, the risk of oil leakage underwater has increased, and the fast and slow lines continue to turn downwards. The OBV indicator's yellow line has turned downwards, and the white line has also crossed below the yellow line, indicating a continuous outflow of funds. The ETF has been in a negative inflow state this week. From January 11th to March 29th, the net inflow was 12.132 billion, but from the 29th to now, it's only about 300 million.

If the 4-hour rebound cannot reclaim 68,300, it will form a second confirmation, and the price will slide towards 60,000. However, if the 4-hour perfect bullish bat pattern appears, it will be at 53,000, and this is also the overlapping position of the daily MA120 and the weekly MA20.

Support:
Resistance:

Ethereum
The daily descending triangle broke through the lowest point and reached 3100, opening the C-wave decline. If the price continues to drop by the same magnitude, it will look towards 2600-2800. The MACD showed a bullish divergence and crossed above the zero axis 4 days ago, but it was still brought down. The OBV indicator has never shown a situation of fund inflow. The only support on the daily chart is at 3056, and the only two supports on the weekly chart are the MA20 support at 2789. The double negative in the weekly decline, with a positive day in between, at 3056, is afraid that the support will not hold.

If the 4-hour rebound from the descending triangle cannot reclaim the lower edge, there is a chance to continue to probe lower.

Support:
Resistance:

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