4.23 BTC/ETH Market Outlook:

Bitcoin provided a bearish view on the 76,000 range band not long ago, and since the past two days, the idea has remained unchanged. Yesterday I shared again the range-bounce short approach around 76,000-78,000. The target is to see a break below the 60,000 level, so there’s also no question of being trapped. Since you’re holding for the long term, you should downplay the unrealized losses in front of you—look at the price, not at the gains. In the early morning, the highest rebound reached around the 79,444 area. Currently, the price has pulled back to around 77,500. From the high to the pullback, it has retreated nearly 2,000 points. This intraday pullback isn’t enough yet. First, watch the support around 75,200. If this level is lost, pay attention to the support around 73,500. It’s Thursday—the market should be entering the second-half rhythm!

After two consecutive down days last Saturday and Sunday on the daily chart, this week opened with three consecutive bullish days and continued to rise. Yesterday closed with a hammer candlestick that has a long upper shadow. With such a long upper shadow, the sell pressure above is still quite heavy. After the KDJ and RSI reached overbought levels at the high point and both turned downward, it shows signs that after the rally, the market needs a pullback.

In the short-term 4-hour timeframe, there were five consecutive bullish days yesterday, but the rally met resistance near the high. A high-to-lower correction with three consecutive bearish days is likely. After the KDJ and RSI reached overbought levels at the high, a dead cross points downward, and the MACD shows a top bearish divergence. In the hourly chart timeframe, the price is moving lower while pressing against the lower band, opening up room to the downside. For short-term traders: if you have short positions, pay attention today to the two supports at 75,200 and 73,500—reduce positions if needed, and take profits if appropriate. For swing traders: keep holding shorts steadily and target 60,000 remains unchanged.

For Ethereum, the setup is for short-term operations. Yesterday, the focus was to go long on highs and short on highs around 2,360 and 2,400. The highest rebound was around 2,423. Currently, the price is around 2,330. If you entered shorts on the highs, the short positions are in profit. For supports below, watch the 2,300 and 2,250 levels, as well as the 2,200 area. The thinking remains unchanged. If you don’t have any short positions, stick with yesterday’s idea: participate by going short on highs around 2,400 and 2,450. #Gate13周年现场直击 $BTC