4.30 Today's strategy analysis
Bitcoin made a slight upward push against resistance last night, with funds quickly dumping during the session. It can be seen that whenever there is an attempt to break resistance recently, there is always a quick sell-off, followed by a gradual recovery. This is usually indicative of a shakeout. The trapped positions above seem unable to rise, and those who might incur small losses have likely exited. The same reasoning applies to the profit-taking positions below; if prices can’t rise, they will sell first. After an 8-day shakeout, today is the eighth day, and the moment of change is approaching. If there are any lows during the session today, longs can be considered. Our expectation is for an upward change and a breakout rally. It’s best not to initiate shorts today to prevent one-sided upward movement after breaking the resistance. A slight pullback is expected before a new high is targeted. Focus on buying low.
Short contract position for Bitcoin, resistance around 96500 for short positions, take profit around 93600, stop loss at 97300.
Long contract position for Bitcoin, support around 93300 for long positions, take profit around 95900, stop loss at 92500.
Ethereum led the market yesterday but failed to reach new highs. This attempt may be related to news, as prominent figures in the crypto space are bullish on Ethereum reaching 5000 points. With this news, some people entered the market to scoop up low-priced tokens. However, this is a long-term prediction, and short-term increases need to be considered with volume. Currently, the consolidation range has not been broken, and there is still an expectation of testing the lower end of the range. First, pay attention to the support situation of the minor trend line to see if an upward rally can be initiated near the trend line. If there is a direct upward attack in this area, a strong trend for Ethereum may occur. Conversely, if it falls back to the lower end of the consolidation range, it will again require waiting for a breakthrough of new highs and the horizontal trend of breaking the consolidation resistance. It is expected that after a slight pullback today, an upward trend will commence, focusing on buying low.
Short contract position for Ethereum, resistance around 1857 for short positions, take profit around 1803, stop loss at 1872.
Long contract position for Ethereum, support point around 1760 for long positions, take profit around 1855, stop loss at 1745.
This view is for reference only, made by the Great Wealth.