4.2 Thursday Morning Bitcoin and Ethereum Latest Ideas and Analysis

Build positions amidst the chaos of fear, exit during the frenzy of greed. The ultimate outcome of investing is written by each moment. Looking back, Bitcoin has fallen from its peak of 69,171 down to a low of 67,939, then recovered to the current level of 68,135. Ethereum, on the other hand, has declined from its early morning high of 2,167 to a low of 2,123, then after a slight fluctuation, reached the current level of 2,141.

From the current market situation, Bitcoin is trading narrowly around 68,000. Although there was a technical rebound from below 65,000, a deep analysis of the four-hour candlestick chart shows that the upward momentum has significantly weakened. The price has repeatedly tested key resistance zones unsuccessfully. Combined with the bearish pressure on the daily chart and extremely pessimistic market sentiment, the technical signals strongly indicate a bearish trend. Lao Lei believes that the rebound offers a high risk-reward shorting opportunity, and the market is likely to test the 66,000 support level again or even lower. Therefore, this morning Lao Lei suggests a high short position.

Morning Trading Ideas
Short around 68,500 for Bitcoin, target 67,000
Short around 2,160 for Ethereum, target 2,080