4.8BTC/ETH Market Outlook:

After the peace talks news came out this morning, the crypto market surged accordingly. Bitcoin rebounded sharply to around 72,700, with a large daily candlestick taking off. Currently, the price is oscillating around 71,500 for correction, constrained by the upper Bollinger Band, which is pressing against the upper band. The upward space is limited, so it’s not recommended to chase the rally directly. The surge caused by news-driven buying is not a bull reversal; it’s just a short-term rebound. Expect a quick rise followed by a fall, with the possibility of a sharp drop when the high is sold off and profits are taken at higher levels. Be cautious of a pullback after a spike, which could lead to a significant plunge!

On the 4-hour RSI, after reaching overbought levels, it has turned downward. On the hourly chart, the price has fallen below the upper band. Both KDJ and RSI are in overbought territory and have turned downward. The MACD bullish momentum is shrinking, indicating a retracement is needed. Trading-wise, focus on short positions and wait for a correction.

Resistance levels above are around 71,500 and 72,500. Consider short positions around these levels for entry. Support levels are at 70,500, 69,500, and 68,000.

For Ethereum, resistance is at 2,250 and 2,300. Consider short positions around these levels. Support levels are at 2,200, 2,150, and 2,100.

Flowers bloom and fade, flowing water is relentless. Flowers bloom only for a moment but leave a lasting fragrance. Time flows like water; what cannot be retained is the past. The investment journey is long, a place where learning and passion coexist. You grow, so you keep progressing and gaining. If you feel frustrated or fearful of the market, your mindset changes. Without solid fundamentals, how can you dominate the market? How can there be profits? #Gate广场四月发帖挑战 $BTC