Market Analysis on the Day
#Bitcoin· Bitcoin briefly broke the $84,000 mark on April 1, reaching a high of $83,914, but subsequently retreated due to traders warning of 'overbought' risks and technical correction pressures. After the opening on April 2, Bitcoin rose more than $3,000 during the day, surpassing $85,000, but then turned down, possibly related to the risk-averse sentiment triggered by the new U.S. tariff policy that took effect that day. Bitcoin may be testing the key resistance level of $84,000; if it fails to break through, it may retreat to around $80,000; if it successfully holds the support level, it could gather momentum to continue upward.
The Relative Strength Index (RSI) indicates that Bitcoin is in the overbought zone, with significant short-term correction pressure; if the RSI can hold the support level, it may drive a new round of increases. Bitcoin's market performance shows characteristics of 'rising and falling,' facing multiple pressures from policy risks, technical overbought conditions, and capital outflows in the short term, but still supported by tightening supply after halving and institutional allocation demand in the long term.
#ETH, The price of Ethereum is $1,885.41, with a 24-hour increase of 3.31%, reaching a high of $1,927.90 and a low of $1,824.39, with a market capitalization of approximately $227.73 billion. It shows a trend of oscillating upward, but trading volume has significantly decreased, resulting in a 'volume-price divergence' phenomenon (price rises while trading volume declines), indicating weakening upward momentum and potential correction risks.
The current support level is at $1,790, with a resistance level at $1,870. If it breaks through the resistance, it may test above $1,900; conversely, it may retreat to around $1,800. Pay attention to the breakthrough of the $1,870 resistance level; if it cannot hold, consider buying on dips around $1,790. Be cautious of the correction risks triggered by volume-price divergence, avoid chasing highs, and set reasonable stop-loss levels (e.g., $1,789).
The Ethereum market shows characteristics of oscillating upward but lacks momentum, constrained in the short term by technical overbought conditions, capital outflows, and macroeconomic pressures, while relying on ecological expansion and technological breakthroughs in the long term.
