April 22 Morning Review

Market Recap and Analysis
BTC's first attempt reached 78k, with the lowest retracement around 735k. This retracement on the daily chart did not break below the midline, so in the short term, it will still fluctuate and rebound at high levels. Focus first on whether it can hold around 76k; if it continues to stabilize, look for a second attempt near 775 to induce more buying and form a double top structure. Currently, the market is within the expected range. Simultaneously, ETH faces short-term resistance at 2360-2380, which is quite strong. Overall, Ethereum shows relatively weak performance, following the upward trend. From the volume perspective, it is rebounding with decreasing volume, clearly an inducement to buy, but unlikely to sustain high levels. The overall trend is fully in line with expectations! This is a clear point of view: simply put, ETH touching 2400 is a sell-only zone, and the same applies to BTC at 775-78k. If you understand this, it should be clear now!

BTC again reached the 775-777 range, forming a short-term double top structure. This has been the consistent view. Currently, trading volume has shrunk significantly, and the inducement to buy is obvious. Today, watch for resistance at the high point of 775-785, with high volatility. Below, monitor support at 755-745k. It’s clear that the market is bearish; short-term retracements are unlikely to see large drops. The 735-73k zone is a short-term support area; if broken, it can directly target the 715-705 range.

ETH has shown weak rebound strength over the past two days, mainly watching Bitcoin perform. Its performance is relatively weak, basically following Bitcoin’s upward trend. Resistance at 2400-2440 is strong and difficult to break through. Once Bitcoin starts to retrace, ETH’s weakness will lead it to decline first! Today, focus on the 2380-2420 range; support below at 2300-2320. It still depends on Bitcoin’s direction. The key short-term support is at 2260; if broken, it can directly target 2160-2100.