4.16 Bitcoin and Ethereum Market Analysis and Trading Advice
The trends of BTC and ETH have their own characteristics. We will analyze from the daily and 4-hour levels and discuss the trading ideas.
Daily Level Market
BTC: For the past few days, it has been fluctuating between 83000-86000 on the daily chart. The upper level of 86000 is heavily suppressed, unable to rise; the lower level of 83000 is supporting, unable to fall, with both bulls and bears in a tug-of-war.
ETH: It is relatively weaker, as the pressure at 1650 has not been broken, and the support at 1600 has been breached. Now we need to see if 1550 can hold; if it doesn't hold, it may drop to 1500 or even lower.
4-Hour Level Market
BTC: On the 4-hour chart, the fluctuation range of 83000-86000 is clearer. If the support at 83000 is broken, the price may drop to 80000, at which point we can short.
ETH: On the 4-hour chart, pay attention to the support at 1550 USD. If it breaks, the price will likely drop to 1500, so everyone needs to keep a close watch.
Trading Advice
Yesterday, we made a profit by shorting near the resistance, indicating that the judgment was correct. The market is currently at the lower end of the fluctuation range; as long as the support is not broken, we can consider going long first.
BTC Trading
Buy: Enter long at 83000-83500, which is close to the bottom of the fluctuation range.
Target: Sell when it rises to 84500-85500, which is near the top of the range.
Stop Loss: To prevent losses, set the stop loss below 82000. If the price falls below 82000, sell quickly to avoid too much loss.
ETH Trading
Buy: Enter long at 1550 - 1570, which is close to the key support.
Target: The target price is 1620-1650, which was the previous resistance; the price may encounter resistance here.
Stop Loss: Set the stop loss below 1530. If the price falls below 1530 USD, sell immediately to prevent losses from expanding.
Adjust investments cautiously based on your risk tolerance, and strictly follow the stop-loss plan to respond to market changes.
