4.28 (Monday)
BTC experienced a significant pullback in the morning, dropping from 94,500 to 92,700, a decline of 1,800 points, and has started to recover, currently stabilizing at 94,000; the weekly K-line for Bitcoin has achieved three consecutive bullish candles, with the price standing above the middle band of the Bollinger Bands, MACD bearish momentum continuing to decrease, and KDJ forming a golden cross upwards. Although the RSI shows signs of turning at a high level, the impact is minimal, and it is not recommended to chase long positions at high levels.
ETH mirrored this; last night, I suggested everyone set up a short order at 1,818 to target 1,780/1,750/1,720, but we missed it by a few points. This morning, it dropped from 1,815 to 1,750.99 and has now also corrected and stabilized around 1,795. The technical indicator analysis shows no significant differences from BTC.
Last week, the weekly K-line had a strong bullish candle, with BTC surging from 85,000 to 95,000 in a week, and ETH skyrocketing from 1,535 to 1,800. Following such a surge, the market typically enters a phase of sideways consolidation or undergoes a deep correction, meaning there is a higher likelihood of the major cryptocurrencies experiencing range-bound fluctuations. The fluctuation range for BTC is 91,500-96,000, while for ETH it is 1,850-1,720. Therefore, the current main strategy is to sell high and buy low, meaning to go long at lower prices and short at higher prices.
Operation suggestions:
BTC: Establish short positions at resistance levels of 94,500/95,200/95,600, and take profit in batches at 92,500/91,700, then consider going long; target above 94,000, and if it breaks, watch for 95,100;
ETH: Enter short positions near 1,818, and if it continues to rise towards 1,840, you may add to your position, with a stop-loss placed at 1,870, targeting 1,780. If it breaks, continue to look for 1,751; if 1,751 support continues to break down, then look for 1,720; for long positions, pay attention to 1,720/1,680. If it touches the support level and quickly rebounds, it confirms the support is effective, and you can re-enter long positions. Take profit levels are 1,780/1,810.
Special note: ETH is quite volatile, with a large profit and loss range. It's best to use take profit and stop-loss orders when trading ETH to avoid unexpected losses.
