4.12 Saturday Evening Bitcoin and Ethereum Market Analysis and Trading Suggestions
Reviewing the trading ideas we provided at noon, friends who followed should have captured nearly a hundred points of movement. However, the afternoon market saw a rebound, reaching a high of around 84000 before facing resistance and pulling back. Currently, the market is oscillating around 83300, and over the weekend, it has been fluctuating back and forth within the 80000-85000 range. The range is narrowing, and after consolidation, it will choose to break out selectively. Considering the daily adjustment requirements, we still have some downward space this evening, and in the short term, we can take light positions to catch the fluctuations, waiting for a retracement opportunity.
On the four-hour level, the K-line rose sharply before facing resistance at the top, showing a flat top with a slight pullback before rising again. The body of the bullish K-line has begun to shrink, indicating insufficient upward momentum. On the hourly level, Bitcoin has also formed a small V-shaped structure, with long upper shadows on the bullish candlesticks, indicating resistance to the upward trend. Here we can expect a pullback, with Ethereum moving in sync. Conversely, if there is a sustained bullish rebound, it will turn into wide-range oscillation.
Trading Suggestions
Bitcoin is trading in the 84000-85000 range, target 80000.
Ethereum is trading in the 1620-1650 range, target 1500.
