April 23rd Technical Analysis: BTC, ETH Market Forecast

BTC, after the last surge to the 78,000 level and a pullback, has not yet fully touched the support level of 72,600 on the daily chart. Instead, it closed with a needle-like rebound approaching the 80k mark. This is the interval position of a previous key node, especially in the current phase where the market is focused on whether it can break through and stabilize above 80k to open up upward space. ETH is similar, but the second coin's trend last time touched the support at 2,260 and then rebounded. Compared to Bitcoin, the rebound strength is weaker, not as strong, and it hasn't reached a short-term new high, only touching around 2,430 before falling back. Currently, the altcoin market is relatively stable with small fluctuations. The recent surge in meme coins was mainly driven by the appearance of international inscriptions, causing a wave of rapid rises and falls without sustained momentum. Overall, the market remains somewhat weak at this stage.

Short-term Intraday Highlights
BTC is currently within the key node range, watching whether it can break and stabilize above 80k. Normally, it may form a high point near 80k to trap traders, followed by a phase of correction. Although the overall trend is bullish, the short-term momentum is not very persistent. On the daily chart, support levels to watch are in the 70,000–72,000 range. For smaller timeframes, support can be observed around 75,000–76,000. If the market strongly breaks through and stabilizes above 80,000, it could push directly toward the major resistance zone of 84,000–86,000 or even rally past 90,000. My personal view is that there will be a correction phase before another upward push.

ETH's rebound after touching 2,260 was weak. Bitcoin broke through strongly near 80,000, but ETH still hasn't reached the resistance around 2,500. Currently, on the daily chart, key support for ETH is in the 2,050–2,130 range. Reaching this level would be the last buying opportunity of the year. Resistance remains at 2,500–2,600. Since the target was not met this time, the short-term support levels to watch are around 2,260–2,300. If this support breaks, then support at 2,050–2,130 will come into play. Once that happens, it’s time to go all-in.

Altcoins are still at relatively high prices. Except for CHZ, which is slightly more stable, most are moving in tandem with the overall market. Due to the influence of international inscriptions, this could become a future hotspot, so it’s worth paying some attention to this area.