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Time of writing: 22:35, April 2, Beijing time

Market Information

1. US stocks and cryptocurrency stocks decline, with MicroStrategy dropping by 8.7%.
2. Bloomberg analyst: Bitcoin ETF trading volume reached $111 billion in March.
3. Singapore issues licensing requirements for cryptocurrency custody services and other services.
4. Breaking news: Less than 20 days left until the Bitcoin "halving."
5. As the halving approaches, Bitcoin becomes more unstable than Ethereum.

Market Review

Last Tuesday, it was mentioned that the market would experience a decline, and today, Tuesday, indeed saw a decline. The pressure at 71100 has been continuously tested, but there has been no effective breakthrough. After reaching the highest point of 71888, it fell and continued to fluctuate near this pressure for a week. The predicted decline has just occurred after about a week, which is a bit longer than expected. However, as long as there is profit, a longer period is not a problem. The low point of the decline for Bitcoin was at 64650, basically reaching the target range. Congratulations to those who seized the opportunity to profit from this decline. As for Ethereum, it was mentioned to open short positions in the 3700-3800 range. There were several opportunities to open short positions during the week, and Ethereum dropped to the 3234 level, also basically reaching the target range. Congratulations to those who followed and are now paying attention to whether the support after the decline can effectively hold.

Market Analysis

BTC:

Looking at the 4-hour chart, it was mentioned last Tuesday that the market would start to retrace. After a week of continuous fluctuation near the 71100 pressure, it started to decline last night, breaking the fluctuation. Today, it began to accelerate the decline. The market directly declined to the short-term rebound support range of 65000-63100. After reaching this range, there is currently a candlestick with a shadow on the 4-hour chart. This decline is basically coming to an end after reaching this range. In the future, the market will usher in a small rebound, which is expected to approach the 200-day moving average before starting to decline again. In the short term, pay attention to whether the support at 65000 is effectively broken and the situation after reaching 63100 and receiving a candlestick. In evening trading, if the price closes above 65000, consider opening a long position. If it closes below 65000, wait for a candlestick near 63100 to open a long position. Enter the market with a stop loss. The target range for this rebound is expected to be between 68500 and 70000. After reaching this range, the market will start to decline again. Personally, I don't think there is a great chance of breaking through in the short term, although the halving is imminent. The halving is a long-term positive factor, and the expectation has almost been fulfilled. After the actual halving, there may not be the expected sharp rise. Don't hold high expectations. In evening trading, pay attention to whether the price returns above 65000 after the change in trend at 12 o'clock. Based on the trend, make your own decisions on entering the market. Control the risk in short-term trading, and manage profits and losses on your own.

ETH:

Looking at the 4-hour chart, Ethereum's rebound was not very strong and did not reach the vicinity of 3875. It followed Bitcoin in a downward trend, and the intensity of the decline did not break the previous low of 3055, which is also considered a normal decline. The support range for this decline is between 3300 and 3190. Ethereum reached its lowest point at 3234, also reaching the support range, and rose above 3300. In the evening, if Ethereum rises above 3300 after the trend change at 12 o'clock, it will start to rebound. After the rebound, it will continue to decline further. The expected target range for the rebound is between 3500 and 3575. After reaching this range, pay attention to the situation of receiving a candlestick to open short positions. There is a high chance of a significant decline in the future, breaking today's low and testing the 3000 level. In evening trading, pay attention to whether the price rises above 3300 after the trend change. If it does not rise, then pay attention to the situation near 3190 after reaching it. Make your own decisions on entering the market. Control the risk in short-term trading, and manage profits and losses on your own.

In summary:

The short-term decline of Bitcoin and Ethereum has basically come to an end. After the rebound, pay attention to the situation of closing at the resistance for layout.

The article is time-sensitive, pay attention to the risks, the above is only personal advice, for reference only!

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