Market analysis on April 23rd, observing whether Bitcoin will have a 1-hour level pullback, the overall 4-hour rebound is not over yet.

CN
1 year ago

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In yesterday's market analysis, we emphasized that if the price of Bitcoin does not fall below 65400 after a pullback, there will be a 15-minute rebound to around 67000 or higher. As expected, after a pullback to 65626, it rebounded directly to around 67232. This 1-hour rebound is relatively strong and has already surpassed 67000. There is some hope for a breakthrough of 70000 in the overall 4-hour rebound.

In the short term, it is necessary to observe whether a 1-hour pullback can occur. If it does, it may be an opportunity to add long positions again, as the 4-hour uptrend has not ended. As for Ethereum, it seems to have already formed a 1-hour pullback structure. Therefore, we should first observe whether it can stabilize and initiate a third 1-hour rebound.

BTC

Due to the rapid changes in the market, this article can only make predictions based on the market conditions at the time of publication. Short-term traders should pay attention to the latest market changes and use this information as a reference only.

1H:

At the 1-hour level, it is still necessary to observe whether a 1-hour pullback can occur. If it does, pay attention to the range of 64500 to 65000. It is not expected to pull back too deeply, and there will be a third 1-hour uptrend. If the short-term 15-minute rebound breaks through 67232 again, it is considered that the 1-hour pullback has not started, but rather the previous rebound has extended.

15M:

At the 15-minute level, it is expected that a 15-minute rebound is about to occur. Depending on the strength of the 15-minute rebound, if it breaks through 67000 again, the 1-hour rebound will extend upward again, with resistance around 67500 to 68000. If the 15-minute rebound fails to break through 67000, there will be a third 15-minute pullback to complete the 1-hour pullback, as indicated by the white arrows in the image. Pay attention to the 65000 area or slightly below for the 1-hour pullback.

ETH

Since Ethereum has already completed the up, down, and up three moves at the 15-minute level, meeting the 1-hour structure, it has essentially completed a 1-hour pullback. Here, if the pullback does not fall below 3150, in the short term, observe the strength of the current 15-minute rebound. If it can break through 3235 again, there is a high probability of a new 1-hour rebound, the third 1-hour rebound, with attention to 3500.

However, if the short-term 15-minute rebound fails to break through 3235, structurally, it should have formed a 15-minute consolidation to continue the 1-hour pullback to around 3120.

Therefore, the key point of the short-term structural changes is still to focus on the upward strength at the 15-minute level.

Trend Direction

Weekly Level: Upward, currently continuing the weekly rebound from 15476, with attention to subsequent daily trends for when it might end.

Daily Level: Upward, there is a certain probability that the daily pullback has already ended, but it cannot be confirmed at the moment. It can only be judged based on the recent 4-hour rebound strength.

4-hour Level: Upward, currently undergoing a 4-hour rebound. Whether it can break through 70500 will become a point of observation for the daily structure.

1-hour Level: Downward, observing whether a 1-hour pullback can occur in the short term.

15-minute Level: Upward, if the short-term 15-minute rebound cannot break through 67000 again, it is highly likely to undergo a 1-hour pullback.

Feel free to follow my public account for further discussion and exchange:

This article is time-sensitive. Pay attention to the risks. The above is only personal advice and is for reference only!

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