April 8 Evening BTC/ETH Market Strategy

Once again, negative news hits the market—Strait of Hormuz opened and closed repeatedly, causing turmoil. However, from a technical perspective, everything has signs to follow, so there's no need for excessive worry.

BTC: In the early session, a bullish surge pushed prices to the 72,250-73,000 range. During the night session, attempts to break higher failed, forming a double top and pulling back to the large range of 69,000-71,400. The night session tests the support at 69,800-70,600. The goal for recovery is to break above 71,400; a pullback to this level is acceptable. In a full bullish trend, it shouldn't touch 69,000. For those looking to short high on this pullback, use 71,400 as a stop to participate.

ETH: In the early session, a bullish push created a high of 2,273 (pre-judged at 2,268). After a second failed attempt to break 2,268 during the night, a double top pattern formed on the technical chart. Coupled with negative news, it pulled back. But there's no need to worry—below, the 2,139-2,171 zone was the previous top. According to the "support-resistance conversion principle," once a resistance level is broken, it automatically becomes support. Keep an eye on this zone for a potential bounce during the night. Currently, the horizontal support at 2,230-2,268 was broken during the day, turning it into resistance. Watch how the market responds to this correction during the night.