Market laws, twists and turns, reincarnation, internal cultivation, external practice, the road is long and far. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave to try. Different attitudes towards life yield different results. Without great ambitions, even with the help of influential people, one will ultimately achieve little. Countless difficulties are not insurmountable. The success story of an investor is actually a history of learning and growth. Through hardships, do not forget the original intention, and one will eventually succeed.

2024.4.1 BTC————————

The weekly chart of Bitcoin shows a bullish candlestick, with the overall price maintaining at a high level on the weekly chart. Currently, the monthly chart has achieved 7 consecutive bullish candles, perfectly replicating the market trend that initiated the bull market in 2020. The subsequent price movement may continue to rise or retrace half of the previous gains. Qin Chuan believes that there is still a demand for a certain upward movement in price, followed by a 1/3 retracement. In this bull market, the price cannot be limited to 70,000. Otherwise, this upward trend is not a bull market. With the halving expectation not yet realized, the price will not decline easily in this speculative circle. With this mindset, it becomes clear that buying on the dip is the best solution.

In terms of market trends, the Bitcoin daily chart support is focused on the 70,400 level. The critical point for the bullish and bearish trend on the daily chart is still at the 68,000 level. Although the MACD indicator on the daily chart has been bearish, the volume has been rapidly shrinking. Therefore, it is advisable to focus on establishing support positions on the daily chart during the short term. On the four-hour chart, the price is maintaining an upward trend within the Bollinger Bands, with signs of the bands opening up. Even if the price retraces, there will be a certain upward movement, as the bullish momentum needs to be consolidated. The overall technical indicators on the one-hour chart are bullish, and the 70,600 level may not provide strong short-term support. It is recommended to focus on establishing positions around the 70,400 level. In summary, it is advisable to buy on the dip for Bitcoin.

Pending Order:

Long 70,200-70,500, stop loss at 500 points, target 700-1,400 points

** (The strategy can only be used once, and the profit-taking can be arranged at your discretion)**

2024.4.1 ETH————————

The weekly chart of Ethereum has not closed above 3,680, and the price has not been able to sustain above 3,640. Therefore, the positioning judgment for Ethereum still depends on the overall trend of Bitcoin. Although the daily chart has also formed a bullish flag pattern, it has not yet broken through the 3,700 level. Therefore, the current price does not have a certain comparability. The key support levels on the daily chart are focused on the 3,560-3,580 range, and various technical indicators are approaching oversold levels. On the four-hour chart, after the Bollinger Bands opened up, there has been no further consolidation of the bullish momentum. The bullish volume indicator has started to shrink under the push of time. The support on the four-hour chart has moved to around 3,560, and the Bollinger Bands on the one-hour chart are rapidly contracting. The 3,580 level may face pressure. The MACD indicator on the one-hour chart has started to exert bearish force, with the fast and slow lines running in a high-level death cross. In summary, it is advisable to buy on the dip for Ethereum within the day.

Pending Order:

Long 3,560-3,590, stop loss at 40 points, target 40-80 points

** (The strategy can only be used once, and the profit-taking can be arranged at your discretion)**

This article is exclusively written by senior analyst Qin Chuan, who has studied various investment fields such as Bitcoin, Ethereum, futures, spot, gold, forex, and stocks for many years. Currently, he mainly guides futures operations, with a solid theoretical foundation and practical experience. He is adept at combining technical and fundamental analysis, emphasizing capital management and risk control, and has a steady and decisive operating style. He is widely recognized by the investment community for his amiable and responsible character, as well as his sharp and decisive operations. For more real-time investment strategies, trading techniques, operational skills, and candlestick knowledge, please follow the public account: Zhao Qin Chuan.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Any operations based on this are at your own risk. Investment carries risks, so please be cautious when entering the market.

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