4.11 Bitcoin/Ethereum Market Analysis and Thought Reference

Bitcoin daily analysis, the price fluctuates between 78400 and 83000, overall a downward trend, having broken through key support levels, it may consolidate afterwards. Once the trendline at 81700 is broken, it will plunge sharply, with strong bearish sentiment. Even if it rebounds to 83500, it is difficult to rise again; it is estimated to decline further. Indicators show not very well, K-line and MACD are diverging, the golden cross has not formed and is still moving downward, after failing to hit the middle line of the Bollinger Bands, it has retraced. Pay more attention to the support at 77000, take a short position in the short term, and consider going long once it stabilizes.

The four-hour K-line just formed a W pattern before dropping, a common tactic used by main forces. The K-line has broken below the support level of 80000, MACD is continuously expanding downwards, and the DIF and DEA failed to push above the 0 axis. The Bollinger Bands are flat; after the K-line broke below the middle line of 79000, it has been consolidating, and KDJ has formed a death cross, indicating strong bearish sentiment. In terms of operations, it is suitable to sell on rallies and try to avoid buying at low points.

For Bitcoin, short positions can be taken around 80000 to 80500, with additional purchases at 81000, a stop-loss of 500 points, and targets set for 79000 to 78500 as well as 78000.

Long positions can be taken from 76000 to 76500, with additional purchases at 75500, a stop-loss of 500 points, and targets set for 82000 to 82500 as well as 83000.

For Ethereum, short positions can be taken at resistance levels of 1600 to 1650, with additional purchases at 1680, a stop-loss of 40 points, and targets set for 1580 to 1530 as well as 1500.

Long positions can be taken from 1450 to 1470, with additional purchases at 1400, a stop-loss of 40 points, and targets set for 1500 to 1550 as well as 1500.

Thank you to the fans for your trust and support! A reminder to everyone, when investing, never rush to withdraw when the trend is upward and you are starting to make money, while holding on stubbornly to losses. This can easily lead to missing out on major market movements and result in increasing losses. If you think I’m right, give me a thumbs up!