April 14th, Monday Market Analysis
Last week, the entire financial circle was filled with the atmosphere of Trump's trade tariffs, and the cryptocurrency circle was no exception. Driven by the news, it broke through 77,000, causing a lot of players to panic excessively, all wanting to exit the market! In fact, looking back at our previous articles, we have always indicated that after breaking 99,200, the market entered a normal downward trend. It was just that old Trump stirred things up and caused the major cryptocurrency, which shouldn't have broken 77,000, to dip due to the news. After a slight easing, isn't Bitcoin still entering its operational track again? Now, let's return to the technical analysis!
After a week of consolidation due to events, Bitcoin is once again approaching the minor resistance level of 86,500. Multiple cycles and indicators are already on the path of being repaired. Currently, Bitcoin's resistance levels are 88,000/91,500/94,000 (reversal points). Last night, the weekly close was also quite good. Early in the morning, detailed technical indicators were analyzed in the internal group. This week will still mainly focus on wide fluctuations, with opportunities to push towards 88,000, then revert back to 84,100/82,800/80,800 (break point, continuing to watch for a large double bottom to form) to prepare for a rebound in May. Moreover, the later it goes, the easier it is to form a reversal. Once it breaks through 94,000, Bitcoin will welcome a new wave of significant growth. We won’t predict the price here, 110,000 is possible, 130,000 is possible, and 150,000 is also possible. We will take one step at a time and look three steps ahead!
Ethereum's rebound this time is the weakest among the top ten cryptocurrencies. The criticism towards Ethereum is increasing, which is normal. Still, the same saying goes, Ethereum is still that second place. Before the second place shows its strength, feel free to criticize! Once the second place wakes up, it will be the lion returning! Currently, the pressure levels are 1,730/1,820, with hopes of pushing through this range this week, then upwards to 1,950/2,020, 2,200/2,400/2,720 (reversal points). To be honest, there are too many levels Ethereum needs to break through, and because the spans are too large, but this is also an opportunity, depending on individual understanding. Support levels are 1,560/1,480. If Trump doesn't create chaos, and Bitcoin moves normally, it will be very difficult for Ethereum to break a new low!
Other major cryptocurrencies: This round, SOL and BCH had the strongest rebounds, and others also followed normally. As a unilateral trend approaches, everyone should avoid touching small altcoins. For the top ten by market capitalization, just allocate some based on the overall market without further analysis here! $BTC $ETH $SOL
