Gujingci: The major trend of Bitcoin/Ethereum is about to arrive on 4.17, combined with negotiation expectations

Bitcoin/Ethereum yesterday repeatedly set up to push short positions higher, and the market trend also rose as expected, then fell back, breaking recent lows to around 73,200 and 2,280, remaining in a narrow range of fluctuation overall. Last night, the expert continued to deliver positive news, whether it’s US-Iran negotiations or Lebanon-Israel ceasefire agreements, helping US stocks reach new highs. However, in the crypto circle, after the rise, prices remained high and sideways, not breaking recent highs, indicating the market is gradually becoming indifferent to these news. As long as negotiations fail, ceasefire agreements expire, or there are delays and conflicts, the sharp rises triggered by news will eventually quickly decline.

The 4-hour candlestick chart of Bitcoin and Ethereum shows that the last two candlesticks are both bearish, indicating short-term upward momentum is weakening, and a correction is underway. The current closing price is close to the lows and has broken below the opening price of the previous bullish candle, showing that sellers are in control. On the technical indicators, the 4-hour DIF line has crossed below the DEA line to form a death cross, and the MACD histogram has shifted from red to green and continues to expand, indicating that short-term bearish strength is increasing, and the trend is turning downward. The market is still in a bear market, accompanied by fragile positive boosts; once these positives fade, there could be a larger decline. Additionally, the article published yesterday afternoon about US-Iran negotiations clearly states that it’s unlikely for US-Iran talks to reach a conclusion after just a few rounds, which itself introduces greater uncertainty moving forward.

Operation suggestions: Enter short positions at the current Bitcoin price of 74,700, add to shorts at 75,400, with a target near 72,500; enter short positions at the current Ethereum price of 2,330, add at 2,365, with a target near 2,250, and break below to see 71,000 and 2,200; for the next support levels, 76,000 and 2,390.

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