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Article writing time: April 10, 11:48 AM Beijing Time
Market Information
- Bitcoin supporter Paul Atkins has officially been confirmed as the new SEC Chairman;
- Federal Reserve meeting minutes: Officials expect tariffs this year to lead to an increase in inflation rates;
- Federal Reserve meeting minutes: All participants believe that maintaining interest rates unchanged is appropriate given the significant uncertainty in the economic outlook;
- The Executive Director of Digital Assets for President Trump stated that they are entering a "golden age" of cryptocurrency;
- Federal Reserve's Musalem: A balanced monetary policy will be adopted as long as inflation expectations remain stable;
Market Review
Due to China's resistance to the reciprocal tariffs, Trump directly increased tariffs by 50%, causing the market to drop, with the lowest point reaching 74578. Our long positions were also stopped out. Subsequently, Trump announced a 90-day suspension of new tariffs on other countries to soften China's stance, leading to a rebound in Bitcoin, which reached our target range. It's a bit unfortunate that we were swept out before the surge; regarding the tariff war, it has now entered a heated phase. Trump initiated a trade war with China during his first term, and after so many years, of the 35 key technologies that were previously restricted, China has now overcome 27. China's current position does not allow for compromise. The China-U.S. trade war will certainly have some impact on the market economies of both countries. Currently, the tariff on China is 125%, and the same applies to the U.S. The opportunity for further tariff increases should be limited. The final outcome will either be negotiations, which would lead to a reduction in tariffs, and these would be favorable for the market. We should always pay attention to market news;
Market Analysis
BTC:
On the daily chart, Bitcoin formed a doji candlestick and then fell due to news, but it did not break below the 74457 level. Following that, it rebounded due to news influence. Currently, the opportunity for further tariff increases is low, and the chances of a rebound in the future are higher. On the chart, Bitcoin is supported above the 79500 level. In trading, we should focus on making long positions around this support, entering near 79500, adding positions at 78500, with a stop loss at 77500, and a target of 83,85000. In trading, the main strategy is to buy on dips, and you should seize the opportunity to enter; for short-term trading, control risks and manage your own profits and losses;
ETH:
On the daily chart, Ethereum is falling stronger than Bitcoin. Currently, it has risen again and is above the support level of 1570. In trading, we can focus on making long positions around this support point, entering near 1570, with a stop loss at 1470, and a target in the range of 1830-1950. After reaching this target, pay attention to market news and the situation of breaking above. Seize the opportunity to enter; for short-term trading, control risks and manage your own profits and losses;
In summary:
Bitcoin and Ethereum have risen and are above support; in trading, buy on dips;
The article is time-sensitive, be aware of risks, and the above is only personal advice 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 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 a one-sided market, some like volatility, some excel in upward trends, and some are obsessed with downward trends. No one is absolutely right, and no one is absolutely 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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