4.30 Midday Analysis, Rebound Induces Shorts, Downtrend Approaching


Bitcoin currently at 76224, with the lower boundary of the triangle being the resistance zone for Bitcoin. The current rebound is only providing a shorting opportunity. It is unlikely to return above this resistance zone, let alone challenge 77278 upwards;
77278 has already turned into a strong resistance. If it cannot break through, it will remain under pressure and weaken. Only a volume breakout above 77278 could lead to a brief stabilization, but the overall trend remains mainly bearish on rebounds.
Most likely, it will only oscillate weakly around 74919, and after grinding at the bottom, a direction will be chosen; the overall bias is still bearish.
If it cannot go up or down in the short term, it will oscillate between 76224 and 74919, with rebounds being opportunities to short.
Trading suggestion: Short in the 76200–76600 range, targeting 74800–75000.

Second Bitcoin (ETH) 4-hour chart has broken below 2231, confirming a bearish trend.
Subsequently, it is expected to decline towards the low range of 2176-2115.
The current downward momentum of ETH is very strong. The bearish flag pattern has been effectively broken.
Although there are rebounds and attempts to re-enter the flag pattern during the decline, the rebound strength is extremely weak, and all recovery attempts have failed.
The market will continue its bearish trend, with a new low at 2218 after breaking the key support at 2251.
It briefly rebounded slightly at this level but failed to break through the 2251 resistance.
Currently, the 2251 support has fully turned into a strong resistance level.
As long as the three hourly candles cannot stay above 2251, the market will test the previous low at 2218 again.
If the 2218 line is broken, the bearish momentum will further accelerate, and the 2180 level will be reached quickly.
The overall market remains dominated by bears, and rebounds are opportunities to short.
Trading suggestion: Short in the 2270–2280 range, targeting 2220–2210.
BTC-1.38%
ETH-3.05%
DOGE0.87%
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