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Monday, April 20th Midday Market Analysis.
Currently, Bitcoin is at 74,500, just bouncing up slightly from a low point, with the trend becoming more stable.
The main daily trend remains bullish and has not collapsed, but after rising for so long, the momentum has been exhausted, overbought conditions have been digested, and these two days are normal pullbacks and adjustments.
Below, 73,500-73,000 still serve as strong support for the bulls, while 76,000 is the first resistance zone.
In the short term, it cannot break through here, so you can consider re-entering short positions.
4-hour: Weakening adjustment, MACD shows a death cross, bears are temporarily in the lead, moving averages are pressing down on the price, and the pullback is not over yet.
Do not chase the rebound at resistance levels.
1-hour: Sideways and frustrating, bulls and bears are stalemated.
Only a break above 74,800 can continue the rebound, and a drop below 73,600 will target 73,000.
In terms of trading, focus on short-term high shorts, wait for a pullback to support before considering long positions, and avoid chasing rallies or selling in panic!
BTC trading suggestion: Short around 75,000, stop loss at 76,200, take profit around 73,600-72,600.
ETH trading suggestion: Short around 2,290, stop loss at 2,340, take profit around 2,235-2,180.