【April 16】BTC / ETH Market Analysis and Trading Strategy

BTC daily close is around 74,800. The level at 75,000 above is still not broken through, and the resistance remains effective. Support below is at 73,800-73,000. Yesterday’s pullback basically stopped around the first support level. On the 4-hour timeframe, BTC has tested 76,000 for the second time, but it was pushed back again. The current resistance is at 75,500-76,000, and the support below is at 74,000-73,000.

ETH daily close is around 2,358. The resistance zone above at 2,360-2,400 is still there and has not been broken. Support below is at 2,300-2,280. On the 4-hour timeframe as well, it tested 2,400 for the second time and was knocked back. Resistance is at 2,380-2,400, and support is at 2,300-2,250.

Both brothers are grinding near the resistance levels. Neither of the two upward pushes managed to break through, and even after the pullback, price is holding up near support. Right now, it’s just range-bound oscillation, with neither the upside nor the downside broken. In terms of trading, don’t chase after a high; wait for a pullback to support before considering going long, or wait for a breakout above resistance before chasing. In the middle area, look more and move less.

April 16 BTC Trading Strategy
Short around 75,300, protect at 76,200, target around 74,200
Long around 73,800, protect at 72,800, target around 75,100

April 16 ETH Trading Strategy
Short around 2,370, protect at 2,410, target around 2,300
Long around 2,260, protect at 2,240, target around 2,330
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