4.7BTC/ETH Market Outlook:

The Middle East situation is unstable; there are negotiations for a while, and then ultimatums, and the market keeps oscillating back and forth. You can only trade short-term, but you can’t really take a longer-term view. Yesterday, I shorted Bitcoin around 69,500 just after it was publicly reached, and I also shorted Ethereum around 2,150. Both let you take a bite of the profit—though it’s rather dull...

For Bitcoin’s daily chart, it follows small-bodied bearish candles with upper and lower shadows, ending the previous run of three consecutive bullish days. While it looks like the bulls have been coming in aggressively, with three bullish candles stronger than the one before, it ultimately still failed to hold above the 70,000 level. So lately I’ve kept emphasizing: don’t chase a rally at high levels. KDJ and RSI are both turning downward, and the price is trading above the middle band; if it breaks below the middle-band support, it will likely become easier for the move down.

On the 4-hour timeframe, after three consecutive bearish candles, price is running into resistance after a push toward the upper band. KDJ and RSI are turning downward, and MACD shows a top reversal divergence. On the hourly chart, price is getting support at the lower band and is in a corrective rebound; KDJ and RSI turn upward, and MACD’s bearish histogram/negative momentum keeps shrinking, indicating a need for correction. For intraday trading, the main focus remains on going short on strength.

For resistance above, pay attention to the 69,500 to 70,500 zone, and especially the 70,000 level as resistance. Using this area to open shorts once more, the supports below to watch are 68,500 and 67,000, as well as the 65,500 area.

For Ethereum, resistance above to watch is around the 2,150 and 2,200 range. Attempt participation by shorting around this area. Supports below to watch are 2,100 and 2,050, as well as the 2,000 level.

Win with your mindset; lose with your temper. The excitement in trading comes from the experience, and the essence of trading lies in waiting. A top trader isn’t someone who trades frequently and accumulates small gains; it’s someone who targets an opportunity and strikes decisively. Most people care about every moment of profit; only a very small number are often in the position of having losses, and once they catch it, it turns into a full reversal in one go. #Gate广场四月发帖挑战 $BTC