Morning Analysis


Last night, the bulls attempted to initiate a midnight surge; the large coin (BTC) was pushed up to the 79,400 level at one point, then met resistance and pulled back. After that, the price quickly dipped again, aligning with the bearish viewpoint of the Sun and Silk Road. Bullish momentum has clearly weakened, with the highs continuing to step down one after another; during the declining phase, trading volume also expanded in tandem. Although there was a brief signal of a stop in the selling at low levels, the rebound strength was on the weak side. Even so, the volume structure still supports a downward trajectory. Today’s market overall has a clear bearish dominance; the trading approach is mainly based on setting up shorts at higher levels.
Trading Suggestions
Set short positions near 78,800-79,300 on BTC, targeting 76,800-77,300 nearby
Set short positions near 2,390-2,420 on ETH, targeting 2,290-2,320 nearby$BTC $ETH #Gate13周年现场直击
BTC2.21%
ETH3.5%
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GreatBoundlessHeavenlyLord
· 04-23 00:44
Morning Analysis
Last night, the bulls attempted a midnight rally, with Bitcoin temporarily rising to the 79,400 level before facing resistance and pulling back. Subsequently, the price quickly declined, aligning with the bearish outlook on the Silk Road. The bullish momentum has clearly weakened, with the highs continuously moving lower, and trading volume increasing during the decline phase. Although there was a brief signal of a bottoming out at lower levels, the rebound was weak, and the volume structure still supports a downward trend. Overall, the market remains predominantly bearish today, and the trading strategy should focus on shorting from high levels.
Trading Suggestions
Short positions can be taken around 78,800-79,300 for Bitcoin, targeting 76,800-77,300.
For Ethereum, short positions can be taken around 2,390-2,420, targeting 2,290-2,320.
$BTC $ETH #Gate13 7th Anniversary Live Coverage
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