Preface: Investment involves risks, please proceed with caution.
Article review takes time, there may be delays in publication, and the article is for reference only. Thank you for reading!
Time of writing: 22:48, April 5th, Beijing time
Market Information
BlackRock updates its Bitcoin ETF prospectus, adding multiple authorized participants such as Goldman Sachs and UBS.
The International Monetary Fund discusses Bitcoin risks in financing negotiations with El Salvador.
Chief US economist at Morgan Stanley: The Fed is expected to cut interest rates in June.
Hawkish comments from the Fed caused a reversal in the stock market and a 4.5% increase in Bitcoin.
JPMorgan: Ethereum can avoid being designated as a security by reducing centralization risks.
Market Review
As previously suggested, when the market fell to the 65000-63100 range, a long position was opened after seeing a lower shadow. After the midnight line change, it also received support above 65000 as expected. The market rebounded as anticipated, with the highest rebound reaching 69329, also reaching the target range of 68500-70000. Subsequently, there was a drop after reaching the upper shadow line, and the low point during the day session was at 65966. This drop was not anticipated, but the overall rise was in line with expectations. The entry opportunities and targets were perfectly predicted, with a profit of over 4000 points. Congratulations to those who followed and profited. Ethereum did not show strong rebound momentum, and it only started to rebound after reaching a low point at 3203. As mentioned earlier, attention was focused on opening a long position near 3190 after the needle closed. Although the target range of 3500-3575 was not reached, there was still profit. The low point for Ethereum during the day session was at 3208, and the overall trend was still oscillating without breaking through. Congratulations to those who also made a small profit with Ethereum. It is now the Qingming Festival holiday, and the market volatility is relatively high. Below, we will discuss how the market is expected to move during the Qingming Festival holiday and the points to pay attention to.
Market Analysis
BTC:
Looking at the 4-hour chart, the overall trend of Bitcoin is still oscillating, without breaking through either upwards or downwards. After a short-term rebound reached the target range and quickly fell, there was a rapid rebound in the night session. From the perspective of the market, during the Qingming Festival holiday, there is still an opportunity for a rebound, but the chance of a breakthrough is not high. There is a dense area of chips on the upside, and it is expected that after reaching this area, there will be a needle closing followed by a drop. The rebound point to focus on is 70000. After reaching this point, observe the situation of the upper shadow line to consider entering a short position. If it does not break through the 71888 level, the short position is relatively safe. If it does break through, look at the previous high. The expected downward range is between 66700-65750. After reaching this range, pay attention to breaking through the 66341 level. If it breaks through, the market will head towards 61700. These are several points to pay attention to. It is recommended to open long positions near 67000 in the night session. Take your own initiative to seize the entry opportunity. For short-term trading, control the risk and manage profits and losses on your own.
ETH:
Looking at the 4-hour chart, Ethereum's rebound is somewhat weak, with minor oscillations at the bottom. The key point to focus on for Ethereum is the high point of 3446 last night. Only by breaking through this point will it reach the previously dense area of chips. Otherwise, it will continue to oscillate slightly here. If Bitcoin falls, Ethereum will follow suit. Ethereum tested the support level twice in the short term, and attention should be paid to breaking through the 3446 level. After breaking through, focus on the range between 3500-3580. After reaching this range, open a short position after the needle closes. After reaching this range, if it does not break through 3684 on the upside, the short position is relatively safe. The subsequent downward target range is between 3350-3285. After reaching this range, pay attention to the low point of this decline at 3203. If it breaks through, the market will head towards 3000. These are the points to pay attention to for Ethereum. For those who are short in the night session, it is recommended to open long positions near 3260, with a target above 3500. Take your own initiative to seize the entry opportunity. For short-term trading, control the risk and manage profits and losses on your own.
In summary:
There is a rebound opportunity for Bitcoin and Ethereum in the night session. Pay attention to the situation after reaching the upper pressure for layout.
The article is time-sensitive, pay attention to the risks, and the above is only personal advice, for reference only!
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