"April 8 Market Analysis: An Unexpected Surge, Can It Lead to an Unexpected Trend?"

The market reaction caused by this news was basically a shock to many B friends who were unprepared. The market maker's trading strategy was also very impressive, with an aggressive rally that caught everyone off guard. They filled the 4-hour gap and made a fake breakout of the previous 72,000 high. Truly impressive. So, can this unexpected surge lead to a sustained trend? Looking at the current daily chart, we still need to see consecutive bullish days; otherwise, the upper trendline on the daily chart might be a trap to lure more buyers before a pullback. We are at a crossroads now: will we see a series of bullish days to confirm the rally, or will the fake breakout end and the market continue to cut the latecomers? Let's focus on some key levels.

$BTC First, for Bitcoin, the effective support depends on this 4-hour bullish candle, specifically whether the price can rebound from the 70,200 level. A deeper support level is at 69,300. If the price falls back to these two levels and breaks below, watch out for further downside. Resistance above is in the 73,600-74,200 range. Holding this zone is crucial; a short-term new high could be possible.
$SOL Satoshi is also watching whether the levels at 81.9 and 80.7 will see rebounds. If there is no rebound at these levels, then observe whether the price pulls back from the resistance levels at 80.7 and 90.5. Satoshi can still be traded with high sell and low buy strategies.
$ETH For Ethereum, to continue the rebound, support at 2140-2120 must hold. Resistance is at 2310. If 2310 cannot suppress the rally, the price may continue to surge higher.

In summary, Bitcoin's current market looks very similar to the market in mid-March. A series of bullish days is needed to break through; otherwise, it might just be a fake breakout that returns to the middle of the daily trend channel. Key supports must hold for a rebound; otherwise, the market could revert to a bear market. (Follow Chief Analyst for daily market updates and precise entry points. Long and short positions are for reference only. Strict stop-loss and take-profit are recommended.)#Gate广场四月发帖挑战