4.6 Monday Evening: Latest Ideas and Analyses for Bitcoin and Ethereum

Price drops do not erase ambitions, and the halving cycle will be reborn in the end. Don’t leave the market; your story hasn’t reached its peak yet. When others feel fear, remember that you once dreamed of standing on top of the candles. Bitcoin showed volatility between 69000 this afternoon, until a continuously appearing peak in the evening at 70283. Then it retreated back to the current level of 69800. As for Ethereum, it continued tracking Bitcoin’s movement: it remained choppy at 2135 this afternoon, rose to 2174 in the evening, and then pulled back to 2156.
From the four-hour chart, it is clear that this rebound in Bitcoin is not sustainable, and it’s obviously just a trick after a selling pause. The price is still being compressed below the short-term averages, and every rise is not followed by sufficient trading volume—this is a weak reversal signal. The market structure is extremely weak, the downtrend channel has not been broken, and there is a large buildup of positions closed above; in pressure zones, selling activity increases. All indicators point to selling strength; the strength of the rebound is decreasing; the peaks are retreating, and the lows are trending downward. “Luo Li” advises not to think about buying now—every rise increases the decline. There are no signs of buying strength, funds have not yet entered, and it’s likely that the decline will repeat to test the key support below. The short-term strategy is clear: when a rebound happens, it’s preferable to sell at resistance—without going against the trend—and wait for a sharp pullback after support breaks.
Evening Trading Plan
Bitcoin around 70000 can be sold, target at 68500
Ethereum around 2160 can be sold, target at 2080