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Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!
Article writing time: April 3, 10:40 AM Beijing Time
Market Information
- The Arizona House of Representatives full committee has passed a Bitcoin reserve bill, which is about to enter the final voting stage;
- The cryptocurrency market has declined following Trump's proposal for comprehensive reciprocal tariffs; Ethereum and Solana fell by 6%;
- Federal Reserve's Kugler: The anti-inflation process may have stalled;
- President Trump will begin implementing "reciprocal tariffs" at midnight;
- The U.S. Treasury has sanctioned 8 Tron wallet addresses using Tether to support the Houthi armed group;
Market Review
Yesterday, Bitcoin rebounded to a high of 88,500, but in the evening, Trump began implementing reciprocal tariffs, leading to panic selling in the market. The S&P 500 futures lost $2 trillion in market value within 15 minutes after Trump's speech, and Nasdaq 100 futures indicated a 500-point drop at the open. The cryptocurrency market also experienced a rapid decline alongside the U.S. stock market, with a low point at 82,157. The rebound over the past few days was wiped out in one night. Although the volatility was quick due to news impact, our strategy still yielded profits. Bitcoin's rebound basically reached the target; yesterday, I advised everyone to open a short position when the upper shadow line was formed around 87, which indeed occurred. Those who positioned for shorts can exit now, while those who did not can look for opportunities to position again during the day. Ethereum's performance is similar; its rebound high was at 1,957. Ethereum's rebound was relatively weak, and even if no short positions were taken, long positions were still profitable. Currently, Ethereum's low point is around 1,780. Although the decline is fast, it has not broken support, and there are opportunities to go long during the day.
Market Analysis
BTC:
From the 4-hour chart, yesterday's rebound did not break through the previous short-term high of 88,752. On the chart, this area is also a pressure zone, which we mentioned as a dense chip pressure area. Subsequently, due to news impact, there was a rapid decline, but the drop did not break below the low point of 81,222. The support level for this drop is around 82,700. After the 8 AM line change, the market moved up again. At 12 PM, when the 4-hour line changed, it was possible to directly go long if it was above. The stop-loss can be set at 81,200, and you can add to your position midway. The rebound target is not to look for a breakthrough but to aim for the 86,000-87,000 range. Manage your entry opportunities accordingly; for short-term trading, control risks and manage your own profits and losses.
ETH:
From the 4-hour chart, Ethereum's trend is inherently weak. This rebound did not reach the 1,975-2,030 range, and as the market began to pull back, if it does not break the 1,957 level, Ethereum's fluctuations will become smaller. This drop in Ethereum also did not break below the short-term low of 1,766. The support for the decline is around 1,805. If the line change at 12 PM is still above, you can directly go long. The stop-loss can be set below 1,766, with the initial target at 1,920. After reaching this, depending on Bitcoin's target, we can see if Ethereum can continue to hold above 2,000. Manage your entry opportunities accordingly; for short-term trading, control risks and manage your own profits and losses.
In summary:
Although Bitcoin and Ethereum have experienced a rapid short-term decline, they have not broken below their low points, allowing for light long positions.
The article is time-sensitive; please be aware of the risks. The above is only personal advice and for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
If you don't like it, you must have your own standards for what you do like. All negativity is the opposite of positive perception. The matter itself is not important; what matters is what changes you can achieve through it and what impact it can have! Some people prefer one-sided trends, some prefer fluctuations, some excel in upward movements, while others are obsessed with downward trends. No one is absolutely right, and no one is absolutely wrong. If you don't like it, it simply doesn't meet your standards. What you may not be good at could be someone else's strength.
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