4/16 Market Review and Analysis

There has been little progress between the US and Europe in bridging trade differences, with the EU expecting the US to maintain its tariff policies. About two hours after the meeting, there was still no clear understanding of the US position, making it difficult to determine the US's true negotiation objectives. Negotiations that do not involve compromises are unlikely to succeed! In the morning, Bitcoin faced pressure from a high of 84197 and retreated, dipping to a low of 83063 during the session, and after reaching support, it quickly rebounded technically. The current market shows a typical converging fluctuation pattern, with Ethereum continuing its bearish trend, quickly dropping to a low of 1550 during the session. Yesterday, Luotian's recommended Doudan Silk Road successfully captured nearly 100 points of space, with Bitcoin entering near 85200 and exiting near Doudan 86100, which is still quite significant overall, though unfortunately it did not reach the target position as expected.

From the market analysis, although recent prices have shown several bearish candles at high levels, indicating some selling pressure in the market, from a technical indicator and pattern perspective, the current pullback is more likely a process of bullish accumulation. The 4-hour cycle shows a short-term downward trend, but the MACD indicator remains above the zero line, indicating that the overall trend has not yet turned bearish. While bearish candles are increasing in volume, they have not broken through key support, suggesting that the main force may be taking advantage of panic emotions to accumulate. If there is subsequent stabilization with reduced volume or a bullish engulfing pattern, it will confirm the end of the washout. The current lower Bollinger Band can be regarded as an ideal bullish defense level. In the afternoon, Luotian still suggests focusing on recovering through Doudan rebounds as the main direction. Key resistance levels to watch above: 85200-86500-87500-88500 and support levels below 89000: 83000-82000-80500 and below 80000.

Bitcoin Pullback: Around 83000-82500, buy in batches, target around 85500, stop at 81500.

Ethereum Pullback: Around 1550-1520, buy in batches, target around 1680, stop at 1500.