April 16 Market Analysis
Bitcoin (BTC):
The current high range is around 86,000, and the recent K-line structure shows a downward trend, indicating a slow retreat in the market. The short-term support level to watch is around 83,000; if this level is lost, it may retrace to the 75,000 range. In terms of operational strategy, it is essential to pay attention to the short-term resistance in the 84,000–85,000 area, while the support performance in the 82,500–81,500 range should be monitored below.
Ethereum (ETH):
Currently in a potential mid-term bottoming cycle, the consolidation phase is expected to last for several months. The daily level is still under pressure from the moving average system, and the rebound momentum is relatively weak. If the bearish trend of Bitcoin continues, ETH may further test the bottom at the 1,100 area. Operational advice: Watch the pressure zone at 1,600–1,630 above, and focus on the support range of 1,550–1,520 below.
Altcoin Market:
It is recommended to maintain a light position or adopt a wait-and-see attitude. As ETH enters the bottom construction phase, the altcoin sector generally lacks effective support, posing a risk of continued decline. It is advisable to wait for clearer market turning point signals before deciding to enter.
