Market laws, twists and turns, reincarnation, internal cultivation, external practice, the road ahead is long. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave enough 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; a successful investor's story is actually a history of learning and growth. The journey may be arduous, but don't forget the original intention, and you will eventually succeed.

2024.4.17 BTC————————

Bitcoin continues to hover at a low level, with a severe bearish arrangement on the daily chart. The overall chart indicators continue to show increasing bearish divergence. The key resistance near 65400 is being watched, and the short-term price is running within a downtrend channel, with near-term resistance around 64000. The key support below is around 60800, and the chart indicators show a reversal in the MACD and a bullish crossover between the fast and slow lines. Aggressive trend-following can be considered if the important level of 64000 is broken on the four-hour chart. The price on the hourly chart received support around 61000 in the early morning and has since warmed up. As long as it stays above 63000, there is a possibility of continued bullish momentum in the short term, so the focus should be on long positions, with support around 63000. In summary, it is recommended to mainly short Ethereum for its subsequent steady rebound.

Pending order:

Short at 65200-65500, with a 300-point defense and a target of 500-800 points or more

(The strategy can only be used once, and the placement can be arranged at your discretion)

2024.4.17 ETH————————

The layout at 3150 for Ethereum yesterday was not successful, indicating that the bullish sentiment in the market is not strong. Therefore, it is suggested to continue the rebound and short strategy on the daily chart. There are signs of overall bullish volume on the four-hour chart, but it is very clear that the bearish force still slightly outweighs the bullish, so the short-term resistance for Ethereum is at 3100. Although the MACD indicator has been running in the bottom space, a breakthrough in price is awaited at any time. Whether the momentum can be sustained in the near term depends on whether 3100 can be successfully broken. Strictly speaking, the hourly chart belongs to a oscillating market, with short-term support around 3060, and if unexpected, attention can be paid to the previous low of 2980. Therefore, there is currently no good opportunity to enter at the current price. It is recommended to focus on the resistance at 3160 and the support at 3060. In summary, it is recommended to mainly short Ethereum for its subsequent steady rebound.

Pending order:

Short at 3160-3180, with a 30-point defense and a target of 50 points or more

(The strategy can only be used once, and the placement can be arranged at your discretion)

This article is exclusively written by senior analyst Qin Chuan. He has been studying the investment field of Bitcoin, Ethereum, contracts, spot, gold, forex, and stocks for many years. He currently mainly guides contract operations, with a solid theoretical foundation and practical experience. He is good at combining technical and fundamental analysis, focusing on capital management and risk control, and has a steady and decisive operating style. He is recognized by many investment friends for his amiable and responsible character and decisive operations. For more real-time investment strategies, trading techniques, operational skills, and knowledge of candlestick charts, 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 operation based on this is at your own risk. Investment is risky, so be cautious when entering the market.

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