Morning Thoughts on April 2:

Last night, the market was initially sluggish, then strongly rebounded, but quickly returned to calm. It is currently in a small-scale oscillation range. Analyzing from the hourly chart, bullish momentum is weak, with multiple upward attempts ending in pullbacks, and trading volume has noticeably shrunk, indicating poor market activity.

Zooming out to a larger timeframe, after a continuous rise, the market shows clear signs of stagnation, with prices struggling to break through previous highs, primarily maintaining a high-level oscillation adjustment. Switching to the four-hour timeframe, the K-line lacks upward attack momentum, and signs of top resistance are beginning to appear, indicating a demand for downward adjustments in the short term.

Looking at the hourly chart, the K-line structure is gradually forming a head and shoulders pattern, with bearish control continuously strengthening. Although the downward pace is relatively slow at the moment, the downtrend is steady, showing no signs of weakening. Therefore, investors need to closely monitor market trends in the short term and be wary of the risk of pullbacks.

Bitcoin: Short near 85500-86000, target around 83000.

Ethereum: Short near 1920-1940, target around 1830.

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