April 15th midday market outlook. 🚀

$BTC Viewpoint:
Has the recent surge in Bitcoin ended? If it really wants to end this rally, it’s highly likely to make another upward spike to fake a breakout above 76,000 or fail to break 76,000 and form a double top around 76,000 on the hourly chart, then retrace and only end this short-term upward trend if it breaks below the 71,431 support. The larger bullish trend remains healthy. After hitting a new high of 76,000, Bitcoin immediately started to retrace. Why does it pull back right after touching 76,000 instead of pushing higher? Because there are many traders who were long at that level and got trapped, creating significant selling pressure. For example, if you were long and got stuck at 76,000 for months, would you take profit? So, the price was pushed down immediately after touching 76,000 due to high turnover at that level, meaning a lot of sell orders. The buying volume couldn’t absorb the sell orders, so the price naturally declined. Additionally, Bitcoin broke below the flag pattern and the 74,300 support, then moved into a small consolidation zone before returning inside the flag pattern. At the position indicated by the white arrow, a potential isolated high was formed. Since the hourly candlestick isn’t complete, it’s a potential isolated high. The presence of an isolated high indicates resistance at this level. Only a breakout above this isolated high can Bitcoin continue to rebound and test the upper boundary of the flag pattern. Breaking through the flag’s upper boundary at 75,537 would also be a bullish signal, potentially leading to a breakout and a challenge to the 76,000 high and even higher levels. If it fails to break the isolated high and falls back below 74,300, it will revisit the red arrow-marked zone around 73,700-73,288. As long as it doesn’t break below the lowest price of this large bullish candlestick indicated by the red arrow, the decline won’t deepen. It might consolidate and go higher again; if it breaks below this candlestick’s low, a deep correction will be triggered.

Bitcoin with volume breaks through 74,751 and continues to chase longs on the right side; if it falls below 73,762 with volume and then rebounds without reclaiming, it’s a signal to chase shorts on the right side—set good stop-losses.
If Bitcoin breaks above and stabilizes at 74,751 on the hourly chart, look for targets at 75,725-76,595; if it cannot surpass 74,751, it’s useless.
On the 4-hour chart, if it breaks below 73,739, look down to 72,911-71,865.
Resistance levels above: 74,751-75,725-76,595
Support levels below: 73,718-72,496-71,434

$ETH Strategy:
Bitcoin with volume breaks above 23,42 and continues to chase longs on the right side; cut losses if it retraces.
If it falls below 23,09 with volume, chase shorts on the right side—set good stop-losses.

Revisit 22,58 to confirm support and add one long,
Break below 22,16 to cut losses.
On the hourly chart, if Bitcoin stabilizes above 23,42, look for targets at 23,74-23,97.
Watch for 24,16 above for a short entry,
Break above 24,56 to stop-loss.
Left-side order insert: 21,97 long, break below 21,55 to stop-loss.
Resistance levels above: 23,42-23,74-23,97
Support levels below: 23,10-22,60-22,18

On the 4-hour chart, if it breaks below 23,09, look down to 22,60-22,15. The expanding trumpet pattern of Bitcoin has been broken downward; now, the upper boundary of the trumpet pattern acts as resistance. Only returning inside the trumpet pattern can halt the current downward trend and allow for a rebound. If it cannot recover inside the trumpet pattern, it’s likely to revisit support at 22,73. End of analysis. $BTC $ETH