The 4-hour candlestick structure of Bitcoin does show some divergence at present.
The low point of Ethereum on April 14 set a clear tone for the subsequent trend, but Bitcoin hit a new low again on the 19th due to the Israeli incident, which undoubtedly increased the complexity of the interpretation of the market.
According to the structural guidance of Ethereum, 67232 seems to be the starting point of the decline and departure segment, which means that we are in the continuation of the downward trend.
From the structure of Bitcoin itself, it seems that it will first test the support near 60,000, then rebound, and finally consider whether to break. Although the position of 60,000 seems fragile, it still has its support.
Intraday observation, the decline and departure segment starting from 64,370 has not yet shown a clear end signal. Even if there has just been a wave of rapid rise, this cannot be used as a basis for the end of the trend. What is more noteworthy is that the intraday correction seems to have formed a third selling point, which indicates that there may be a new low at night.
For the future market, whether the key position of 60,000 can be maintained will depend on the two expectations mentioned above.
In addition, I would like to emphasize that the range of 60,000 to 53,000 is actually a relatively scarce area. If the market is weak, it may briefly touch 59,000 and then rebound quickly, or there may be a rapid decline to 53,000 and then rise again. Such a trend will accumulate more momentum for the future market gains.
In the short term, we should be cautious about changes in the market. If Ether wants to turn strong again, it must successfully reverse last night's high.
At the current price of 62,300 to 62,500, it is recommended to maintain a short position and pay close attention to the support of 60,500. Subsequently, according to the changes in the downward momentum, decide whether to switch to long operations.
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