Crypto News
April 16th Hot Topics:
1. The US spot Bitcoin ETF saw a net outflow of $37 million yesterday.
2. Reserve Bank of Fiji: Prohibits the use of cryptocurrencies for payment or investment.
3. IBIT's net inflow was $73.7 million yesterday.
4. A whale bought $16 million worth of Bitcoin during the market downturn.
5. CZ will face judgment at the Federal District Court for the Western District of Washington on April 30.
Trading Insights
To ensure that the major event of making a profit goes smoothly, strict trading principles and discipline must be established and strictly adhered to. This will solidify principles and discipline into trading habits, making stable profits a natural outcome. Systematic trading requires adherence to the principle of consistency, trading only based on consistent buy and sell signals. The trading discipline of the trading system is relatively strict. It only recognizes signal instructions, regardless of winning or losing. Whenever the trading system issues buy or sell signals, one must act promptly without hesitation. If the trading system does not give buy or sell signals, one should remain motionless and unwavering.
BTC
Analysis
The overall market fluctuated upward yesterday, reaching a high of 66830 before being resisted. Subsequently, the market began to decline, erasing the gains and falling to the support level of 62300. Congratulations to friends who followed the strategy and profited from a long position of 2000 points. Currently, the coin price is running near 63300. After a rebound on the four-hour chart, it failed to stabilize and then fell continuously. The chart shows multiple penetrations of the 62500 area without continuing the downward trend, indicating strong support. The MACD is running with no volume, and the two lines are sticking together. In the short term, the market trend is a battle between long and short positions, with a fluctuation range of over 4000 points. Short-term direction is mainly oscillating with no clear direction. On the daily chart, attention is still focused on the support level of 60,000. If it can hold, there will be a rebound; otherwise, there will be another downward penetration before the opportunity for an upward move. The strategy remains to buy on dips, with good positions to prevent falling below 60,000. Resistance above is at 64500-65800, and support below is at 62500-60000.
ETH
Analysis
Ethereum's overall trend is linked to the overall market, forming a V-shaped retracement. Yesterday, it reached a high of 3277 before falling back, and fell to the support level of 3024. Congratulations to friends who followed the strategy and profited from a long position of over 100 points. Currently, the coin price is running near 3075. On the four-hour chart, the bulls are gradually reducing their volume, and the two lines are converging. The market retracement has broken the short-term uptrend, and although there is a halt to the decline, the rebound strength is not significant, with a possibility of retesting 3k. Short-term long positions should not rush to enter, as the market is heavily washing out positions. It is best to observe the short-term trend mainly. From the current trend on the daily chart, it fluctuates around the MA60, alternating between bullish and bearish phases. If it can stabilize above 3k, there is a possibility of a rebound; otherwise, it will retest the MA120. It is uncertain whether this is the bottom, but Ethereum with a value starting with 2 is worth buying. Resistance above is at 3100-3160, and support below is at 3000-2900.
Disclaimer: The above content is purely personal opinion and is for reference only. It does not constitute specific operational advice and does not bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there is anything you don't understand, feel free to consult.
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