April 24 Bitcoin Ethereum Cycle Analysis
Hello everyone, I am Dashan. I focus only on the trends of mainstream coins and provide daily cycle analysis. In the crypto world, when some people laugh, others will cry. I hope everyone is among the former! To my fans and friends, I also wish that everyone can achieve their goals in the crypto space!
Regarding Bitcoin, it was mentioned yesterday that we need a second daily candle to confirm, and the result was similar to our expectations, closing with a very small candlestick. This resistance level still cannot be confirmed as having effectively broken through, so we will continue to wait for today’s signals. If a bullish candle breaks through, it will be an effective breakout. If a bearish candle appears, we will look at the turbulence below, and it may even start to decline again. Therefore, today is still very critical; we will wait for the daily chart to close. Yesterday's doji candle indicates that the forces of bulls and bears have reached a balance here, and it does not indicate a reversal.
Then regarding Ethereum, it was also clearly stated yesterday that the key resistance level here has frequent doji candles on the four-hour level, indicating that the forces of bulls and bears have reached a balance. At the same time, this is a key resistance level, a position under dual pressure from horizontal support and this descending trend line. When trading here, you must control your position well and manage your stop-loss. This is the most important aspect of trading; you must be responsible for your wallet.
Playing in the crypto space boils down to a contest between retail investors and institutional players. If you don’t have cutting-edge news or first-hand information, you can only get cut!
The article is time-sensitive, and the market changes in real-time; the specifics are based on live trading, and the above suggestions are for reference only!
Investing involves risks, and one must be cautious when entering the market. #BTC #ETH $BTC $ETH
