Crypto News
April 17th Hot Topics:
1. The net outflow of the US Bitcoin spot ETF was $58 million yesterday.
2. There are only about 3 days left until the Bitcoin block reward halving.
3. The Federal Reserve's megaphone: Powell lowers the expectation of interest rate cuts.
4. Bitcoin's market share has reached the highest level since April 2021.
5. There is approximately $50.67 million in on-chain lending liquidation near the $2831 level of Ethereum.
Trading Insights
The most frightening thing about trading is when you ask yourself what trading system to use, only to realize that you seem to know nothing. It's important to know that there is no technology that cannot be mastered, only people who are unwilling to learn due to laziness. Many times, success in something is not achieved by someone who is initially very clever, but by someone who never gives up and is willing to learn. Friends who have achieved success in trading are often not the exceptionally clever ones. The smarter a person is, the lazier they tend to be.
Trading is not about imagination, but about taking step by step. Regardless of which system you are learning, you must put in your best effort to learn it well. Only by making an effort and taking it seriously can you receive feedback, learn from it, be inspired, and even find inspiration to develop a system that suits you.
Search for the public account: "Big White on Coins"
BTC
Analysis
Yesterday, the price of Bitcoin fell multiple times to the area near $61500 without breaking through, then rebounded after hitting the bottom, reaching a high of $64340 but was resisted. Congratulations to friends who followed the train of thought and profited from long positions by 2000 points. Currently, the price is running near $64000. The four-hour chart has experienced another decline but has not broken the previous low. As long as it holds the $60,000 mark, the market will oscillate and rebound. In the short term, it is in a range-bound oscillation, with consecutive positive candlesticks and the MA7 turning upwards. If it can break through and stabilize at $64500, it will further rise. Looking at the daily chart, although it closed with a negative candlestick, the bearish trend did not continue, and the trading volume decreased. In the short term, the decline has stopped, so pay attention to the strength of the rebound. A sharp rise is not possible. There will be frequent plate washing during the bottoming phase. For the long term, continue to hold and observe. The overall strategy remains unchanged, with room for additional positions. Resistance above is at $64500-65800, and support below is at $43500-62500.
ETH
Analysis
The trend of Ethereum yesterday was consistent with the train of thought. It fell below $3000 during the day but quickly recovered, then fell again in the evening without breaking the previous low, followed by a rebound, reaching a high of $3118 but was resisted. Congratulations to friends who followed the train of thought and profited from long positions by 100 points. Currently, the price is running near $3080. The four-hour chart shows little fluctuation, stabilizing above $3000 overall. The bulls are gradually increasing their volume, and the two lines are sticking together with a sign of a golden cross. In the short term, there is not much downward space, mainly in horizontal adjustment. There is no entry opportunity for short-term trading, so it is recommended to observe. Looking at the daily chart, if it closes with a positive candlestick, it will form a triple bottom structure, indicating a demand for consecutive positive rebounds. If it closes with a negative candlestick, it will test the support of the MA120 moving average again. Currently, the trend indicates a low probability of a rebound, so continue to hold for the long term. Resistance above is at $3130-3220, and support below is at $3000-2900.
Disclaimer: The above content is for personal opinions only and is for reference only! It does not constitute specific operational advice, nor does it bear legal responsibility. The market situation changes rapidly, and the article has a certain lag. If there is anything you don't understand, feel free to consult.
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