4.19 Morning Market Outlook

The entire network was collectively bearish before the US stock market opened on Friday, but I firmly hold a bullish view against the trend. After the market broke through the key resistance of 75,500 in the evening, it reversed and strengthened. After the US stock market opened, it surged violently, topping out at 78,323, with a nearly 4,500-point jump in a single day.

After hitting resistance from the surge, the market continued to fall and weaken. It is currently consolidating around 75,700. In the early hours, a sudden major geopolitical development emerged: Iran closed the Strait of Hormuz, significantly warming up risk-aversion sentiment. Medium- and long-term positive support still remains, but heavy suppression at short-term highs continues. On the 30-minute chart, prices have been slipping continuously along the downward trend line, bullish volume has faded, and for short-term rebounds, shorting at high levels is still the priority.

Trading Suggestions

Sell short on rebounds in the 76,300-76,800 range, targeting a drop below 75,300. If broken, look for 74,800-74300#Gate13周年现场直击 $BTC $ETH