April 8th BTC/ETH:

The US-Iran geopolitical tensions have paused, Bitcoin rebounds, what’s the outlook?

In the early hours, the US and Iran reached an unprecedented two-week ceasefire agreement, easing tensions in the Middle East, and the Strait is now safe for passage. At this time, the Nasdaq rose to 2%, crude oil plummeted 15%, and Bitcoin returned above 7200. This rally is mostly driven by news sentiment, market liquidity remains relatively low, and real-time inflows are not significant. The key point is that the agreement is a pause for two weeks, not a termination!

BTC
A four-hour large bullish candle broke through the daily resistance, with the short-term MA7 and MA30 showing a clear head-and-shoulders alignment. However, the upward move lacks sustained volume, raising doubts. On smaller timeframes, a pullback is needed, with support around 7060. As long as it doesn’t fall below this level, the upward momentum remains. For conservative traders, watch around 7450, mainly favoring a cautious approach with lower risk.

Range around 7040-7080, with a defense at 6960, target 7180-7270, and a breakout above to 7450.

ETH
Range around 2168-2186, with a defense at 2130, target 2235-2275, and a breakout above to 2390.

Short-term trading should be flexible and adaptable based on your own position. $BTC #加密市场回升