4.19 Market Analysis

Recently, almost every day is influenced by news factors, and the primary technical support and resistance often fail under the influence of news. A strait has become a tool for a few people to speculate on wealth, but this frequent change of sentiment may make the market reaction sensitive; over time, an immunity may develop. Returning to the market, today is the last day of the week, which affects the weekly K-line closing pattern. Bulls will intensify their efforts before the closing, and during the daytime, the market remains mainly in slight fluctuations. Without news influence, there will be no sharp decline or sharp rise.
Bitcoin: In the short term, it is a bearish trend, and resistance levels above the 30-minute timeframe can be tested for short positions. The bearish trend is more obvious below the 1-hour level. However, on larger cycles such as weekly and monthly, the overall trend remains bullish, with the weekly chart in an accelerating upward phase. Quick retracements and needle-like movements at key levels still present buying opportunities. It’s best to wait until the 8- and 12-hour adjustments are complete.
Support: 74,000-74,500, 73,700; Resistance: 76,800-77,200, 77,800-78,000
Second Bitcoin: First consolidates downward to find a bottom, then rebounds. In the short term, it is highly likely to fluctuate within the core range of 2,300 to 2,400. Focus on the gains and losses at these two key levels. Technical signals are mixed. The 4-hour MACD shows a death cross, indicating short-term downside risk; however, the on-chain Smart Money Index (SMI) shows bullish signs, suggesting professional traders may be actively buying.
Support: 2,300-2,309; Resistance: 2,385-2,400, 2,450