#Gate13周年现场直击 4.20 Bitcoin market don’t panic, still talking!

Crypto market:
1. Bitcoin institutional activity is muted,
2. On April 20th, according to monitoring, 4 days ago, a high-level profit-taking and clearing position of $398 million long positions was made, and today, after a pullback, new long positions were opened again. Currently, 2 wallets hold 44,000 ETH long positions, with an entry cost of $2,289.
3. On April 20th, according to monitoring, a whale sold at an average price of $2,300 this morning.
Market aspect:
1. On April 20th, news: On April 19th, Israeli Prime Minister Netanyahu said during a meeting with visiting Argentine President Milei, “The Israeli and American strikes against Iran are not over yet.”
2. On April 20th, Iran’s news agency released an English message on social media, stating Iran refuses to participate in the second round of negotiations with the US. Meanwhile, US forces attacked an Iranian commercial ship, forcing it to return.
3. US media: US officials say Vance will lead a delegation to Islamabad to restart negotiations, Iran suspects it is a “cover for a surprise attack.”
4. On April 20th, Iran reiterated plans to use the Rial as the settlement currency and impose transit fees on ships passing through the Strait of Hormuz.
5. On April 20th, Iran’s foreign minister and Pakistan’s foreign minister jointly confirmed that Tehran will continue negotiations with the US to maintain regional peace and security.
6. Overall, the market is fluctuating around the Strait of Hormuz! The market is full of uncertainties; in this context, buying near support levels and shorting near resistance levels is advisable!

Daily level: The price has fallen below the 76,000 mark, with a death cross appearing on the KDJ, and a golden cross on the MACD. The upward momentum of the price has weakened, but the current 7-day RSI indicator is at 54, slightly favoring the bulls. 74,000 remains an important level; holding this level provides a solid foundation for further upward movement. Overall, near support levels, appropriate buying actions are recommended. Keep positions light and consider shorting near resistance levels!

Upside: Initial resistance near the upper Bollinger Band at around 78,366, further resistance at the 80,000 mark.

Downside: Initial support near the intraday low of around 73,666, further support at the 30-day moving average of around 69,754.

Investing involves risks; enter the market cautiously.