4.24.BTC.ETH. Midday Highlights

Bitcoin and Ethereum's overnight test of key resistance was unsuccessful, indicating strong selling pressure above. If there is no effective breakthrough in the short term, the market may turn to a pullback for consolidation. Current data shows that the sentiment for bullish trading has surged to 62%. This is a typical contrarian signal; when too many people are bullish, the market makers will not let them profit. Their logic is always: the more bearish you are, the more it will rise to show you, first blowing up the bullish positions, and then harvesting the retail traders. Do not follow the emotion, and do not fixate on the candlestick chart imagining straight-ups and straight-downs; this is the most dangerous and lucrative phase. Once key positions are broken, it will be the ignition point for bullish sentiment.

Today, pay attention to the key watershed at 94910 for Bitcoin, which is a daily level reversal point, originating from the rebound high at 78200. Whether it breaks or not will determine the subsequent direction. During the day, focus on whether the 4-hour level can stabilize above 92910; if not, the probability of a pullback increases. Watch for the support levels below at 91850, 90880, and 89713. A reversal signal requires the 4-hour closing price to stabilize back above 92910, with targets looking towards the pressure zones of 93888, 94900, and 96220.

For Ethereum, today pay attention to the strength threshold at 1772, which is a short-term dividing line for strength and weakness. If the 4-hour level loses this position, it will probe down to the support zones at 1740, 1715, 1690, and 1658. The condition for recovery is that the 4-hour closing price must stabilize above 1772 before challenging the resistance zones at 1805, 1838, and 1865.