Under the pressure of tariffs in the United States, from the weekend to today, the weekly K chart update shows that Bitcoin has dropped by as much as 10%, and Ethereum by as much as 20%, with the market being heavily impacted by bears. After the current weekly K chart update, Bitcoin is operating near the lower band of the BOLL indicator. Although the TD indicator has reached TD9, the MACD and KDJ indicators continue to show a bearish expansion trend. Additionally, there are not many positive news factors from the U.S. this month, and the monthly K chart trend is beginning to change. If Bitcoin strongly breaks below the key support level of 73,500 again this week, the downward trend on the monthly K chart can basically be confirmed, and the market will likely continue a one-sided trend in the coming months. Therefore, the probability of the weekly K TD indicator lagging to TD13 will increase again. Currently, the strong resistance on the weekly K chart is referenced in the 81,500-82,500 range. If this week’s rebound cannot stabilize above this resistance level, Bitcoin will continue to decline and test the middle support of the monthly K BOLL band at around 67,000.
On the daily chart, after a rebound on the evening of April 7, Bitcoin quickly retreated after touching the MA5 daily moving average resistance. In terms of indicators, both MACD and KDJ are showing a downward resonance, and the MA30 daily moving average is showing a downward pressure, indicating that there is strong resistance above. The current strong resistance on the weekly K chart is referenced in the 81,500-82,500 range; if the rebound cannot stabilize, maintain a bearish outlook.
On the 4-hour chart, after a recent rebound, the K bar shows an upper shadow. Although there was a rebound on the hourly chart, the daily and weekly K charts have strong resistance, so my personal view is to maintain a high short position from April 7 until the early morning.
Trading strategy: Bitcoin: 80,500-81,500 short, target: 78,500-76,500, with a spike down to 75,000, stop loss: 82,500.
Although Ethereum's short-term trend is in sync with Bitcoin, the monthly K chart has experienced five consecutive bearish candles. The overall trend is quite weak, so the view remains the same: continue to take high short positions on rebounds. Trading strategy: 1,620-1,660 short, target: 1,550-1,500, with a spike down to 1,450, stop loss: 1,680. For the short term, we will focus here and continue to update later.
This personal opinion is for reference only. There may be delays in article review and push notifications, and the market changes rapidly. Specific entry and exit points should be based on real-time guidance, and caution is advised when entering the market.
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