Good morning, everyone.

After the broader market fell below 70, it accelerated its decline, and during that period there was almost no sign of any effective rebound. Most cryptocurrencies are the same, including Ethereum, SOL, and others. Faced with the current crypto market trend and the impact of external conditions, which have led to intensified panic and pessimism in the market—when comparing this period’s moves to the U.S. stock market—it’s already clear that there’s a divergence: falling but not rising. This is enough to show how sluggish and fragile the current crypto market is. Not to mention market confidence.

What’s also quite interesting is that from the broader market’s daily chart at the end of March and the beginning of April up to now, it’s not hard to see that the broader market has formed a rounded top pattern. The profits from the prior uptrend have more or less all been wiped out. Therefore, in the short term, focus on whether the broader market can slowly build a bottom and form effective support in the 63,000–65,000 range. If it cannot hold support, then the broader market will likely head toward this year’s new low around 67.5.

Of course, personally I still remain bearish on the broader market’s recent phase. For spot trading, I still recommend buying the dip in coins with strong liquidity, mainly the mainstream coins in popular sectors. For contract strategies, going short/high sell positions is enough. Also, for the news regarding the U.S. and Iran, everyone should pay more attention. After all, since there hasn’t been effective substantive progress that truly lets the market see hope, the U.S.-Iran style of negotiating while fighting has already become something the market is used to.

For today’s BTC, the short-term support to watch is around 65,000. For ETH, the short-term support is around 1,780. For SOL, the short-term support is around 70. Once it breaks, you need to watch for this year’s new low around 67.5.

Today’s contract strategy:
BTC: 67,500, or short on rallies; take profit at 65,000

ETH: 1,890, or short on rallies; take profit at 1,820

SOL: 75.5, or short on rallies; take profit at 70.5

Warm reminder:
1. Stop-loss suggestions should be set according to your actual liquidation price and the loss principal you can personally tolerate.
2. Don’t be greedy—lock in profits. Better to take a small loss than to hold a position against the trend. If the direction is correct, you can continue holding.
$BTC ‌$ETH ‌$SOL ‌