4/13 Market Review and Analysis
Yesterday afternoon, the Silk Road clearly indicated a bullish trend, and as Luo Tian mentioned, the market peaked around 85300. Those who followed should have seen a small profit, with nearly a 2000-point upward movement. Ethereum also performed well, reaching a peak near 1670, with a 110-point space. Therefore, in the current trend, Luo Tian still recommends a bearish stance and not to engage in long positions, but to buy on dips. If you are unsure about the entry point, you can consult Luo Tian.
Bitcoin is currently in a phase of consolidation and adjustment, with prices fluctuating around the 83500-85500 range. The MACD on the 4-hour chart shows a shortening of the red bars, with DIF and DEA approaching convergence. Short-term momentum is weakening, but no death cross has formed. The daily line shows a long upper shadow, indicating selling pressure at high levels, but the hourly chart still maintains an upward fluctuation. The 1-hour RSI (55) is neutral to strong, indicating ongoing upward momentum.
Trading Suggestions, for reference only
Bitcoin Pullback: Buy around 84000-83500, target 86000-87000 for a sustained breakout, with a stop-loss around 82000.
Ethereum Pullback: Buy around 1580-1550, target 1660-1700 for a sustained upward movement, with a stop-loss around 1520.
