4.11 Pancake Market Highlights

Market Review

Yesterday, BTC had a slight pullback, which was expected, a corrective move. The CPI data yesterday was good, but the market did not react much, and market sentiment has not improved. More positive stimuli are needed, and we expect consolidation during the day. We should patiently wait for stabilization before taking action; the larger cycle needs adjustment, and we are waiting for confidence to recover.

Today's Market Focus

The BTC market will correct yesterday's upward spike; that is, we will look at the intensity of support on the retracement from yesterday. The support at the intra-day level yesterday was not that strong. Today's rebound is meant to better correct yesterday's upward spike. For the day, focus on the resistance level at 81,500 and the support level at 79,000. The direction of trading is still recommended to be mainly short; do not easily chase long positions! You can set up a small short position near 81,500.

ETH has relatively weak trading volume, and panic in the market is intensifying, especially after the last dip in altcoins exceeded the drop in the previous pancake market, causing more retail investors to lose confidence in ETH. Therefore, the market outlook is quite clear. Recently (not including the future), ETH's performance is still unlikely to show strong independent market behavior; any rise may quickly reverse, and the strength of the rebound will not increase. From the four-hour chart, ETH's intra-day movement will oscillate in the range of 1,570-1,480. I still maintain a pessimistic view on ETH, with the main direction being short! You can set up a small short position near 1,555.