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Article writing time: April 8, 11:59 AM Beijing Time
Market Information
- The U.S. federal court ruled that Ledger must respond to consumer allegations in the U.S.;
- Musk directly called on Trump to withdraw the new tariffs, but has not yet achieved results;
- Musk's wealth has shrunk to less than $300 billion;
- Elon Musk's brother stated that the tariffs are a "permanent tax on American consumers";
- Jamie Dimon warned that tariffs could trigger inflation and a global economic downturn;
Market Review
During the Qingming holiday, the market experienced severe fluctuations due to Trump's implementation of "reciprocal tariffs," which led to a 34% increase in tariffs on China. China also reciprocated with increased tariffs, entering into a trade war. U.S. stocks, A-shares, cryptocurrencies, and other international investment categories all experienced varying degrees of decline. Trump also announced that if China does not cancel the tariffs, he will further increase tariffs on China. Today's China is not the same as before; China's attitude towards the U.S. actions is to fight to the end. This trade war will not end so simply, and there may be further escalation or reconciliation in the future. The future is uncertain, and for us small retail investors, we should follow the market direction and maintain rationality in trading.
Bitcoin was affected by the reciprocal tariffs, dropping to a low of 74,457, while Ethereum fell to 1,410, both showing varying degrees of decline. Before the Qingming holiday, we positioned long orders, and offline we took small profits to exit. Currently, the market shows slight rebound signals, and there are many profit opportunities in the short term.
Market Analysis
BTC:
From the daily chart, after yesterday's decline, the market started to rally in the evening, closing near the previous support around 79,500 and forming a bullish candle with a long lower shadow. Technically, this indicates a rebound signal. Although the market is currently affected by increased tariffs, it will not continue to decline indefinitely. In trading, you can position long orders based on the daily close, with recommended entry points around 79,500, adding to positions at 78,500, stop loss at 77,500, and target range of 83,100-85,100. Once the target range is reached, pay attention to the breakout situation around 86,700. Manage your entry opportunities accordingly; for short-term trading, control risks and manage profits and losses independently.
ETH:
From the daily chart, Ethereum's overall trend is still weaker, as it has not effectively broken the downward channel. In the short term, Ethereum also formed a long lower shadow. If Bitcoin has a rebound opportunity, Ethereum will follow, but the rebound strength will not be as strong, peaking around 1,840. In trading, you can also follow Bitcoin to position short-term longs, with recommended entry points around 1,550, stop loss at 1,450, and target range of 1,750-1,840. Manage your entry opportunities accordingly; for short-term trading, control risks and manage profits and losses independently.
In summary:
Both Bitcoin and Ethereum show short-term rebound signals. After the rebound, position for short trades based on the trend.
The article is time-sensitive; please be aware of the risks. The above is only personal advice and for reference only!
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 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 declines. No one is absolutely right, and no one is definitely wrong. If you don't like it, it doesn't meet your standards; what you may not be good at could be someone else's strength.
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