Bitcoin has now fallen below 29650, which means that the rise from 27700 to 31000 has ended, and then continued to fall. The current lowest level is 29000, and the subsequent rebound stopped at 29570. The overall decline is not particularly strong, and is more likely to be a short-term correction, and may follow. The upper pressure of the rebound test is about 30250-30550. At present, the probability of another new high is low. If it is still a new high, it will be a short-squeeze diffusion structure. The probability of a subsequent large-scale decline will be greater. The overall situation is in the process of building a top at the hourly level and the volume In terms of performance, the volume will increase when it falls, and the volume will shrink when it rises, so I won't be overly bullish, and my thinking will be mainly high-altitude.
Resistance level【30250, 30550, 30900】
Support level [29570, 29000, 28800]
Ethereum also experienced a linked decline. However, Ethereum was relatively strong in the short term and did not fall below the previous low. Therefore, there is still a possibility of new highs in the future. Even if it does not reach a new high, it will test near the previous high. After the test, Ethereum will gradually weaken and may fall again. The decline is greater than that of Bitcoin, but the overall market is also waiting to build a top structure. Although Ethereum has the possibility of a relay structure, it is mainly affected by Bitcoin, so it is necessary to observe whether the subsequent upward test of the bull volume can be large. And whether it will reach a new high. If the volume is insufficient and it cannot reach a new high, then there is a high probability that it will fall below the previous low and form a larger retracement.
Resistance level【2123, 2155, 2200】
Support level [2040, 2020, 1935]
The market is changing rapidly. If you make a profit, move the stop loss to the opening price in time. The point can only be used once. Do not open the same point again after being stopped. Do not place orders at high times. You must bring a stop loss. Stop the loss twice and close the position gradually. Open a position and gradually reduce the position. If others are greedy, I will be fearful. If others are fearful, I will be greedy. It is not recommended for novices to do futures contracts.
April 18, 2023
The above analysis is for reference only and does not constitute investment advice.