4.7, Monday, Analysis of the Afternoon Strategy for Bitcoin and Ethereum!
The market cannot be stopped, it's like a flood. Bitcoin has plummeted 8000 points in a day, and Ethereum has dropped 400 points as if it's just a joke. All the coins in the market keep falling, and everyone is thinking about buying the dip, not realizing they are buying into their own ruin. The current market is generally in decline; a short-term long position near 75000 should not be a problem, while Ethereum near 1770 long is also unstoppable.
From the one-hour chart, after a price drop and recovery, it is under pressure at the middle track moving down. The middle track is forming a downward trend, and the bearish volume has not turned into bullish volume. The moving averages are consolidating, and the recovery strength in the short term is limited, with excessive fluctuation sentiment. However, there is still some demand for downward testing, so our main strategy moving forward is to focus on low long positions.
From the four-hour chart, the operating channel remains in a narrow fluctuation state. The buying and selling volumes have not formed a one-sided release, and the moving average trend is also relatively flat. The short-term fluctuation sentiment can be described as strong, and there are currently no signs of a breakout.
Personal trading suggestion for Bitcoin: Go long near 75000, with a target of 77000-78000. If it breaks, continue to look up!
Personal trading suggestion for Ethereum: Go long near 1470, with a target of 1500-1550.
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