4.23BTC/ETH Market Outlook:

Bitcoin has been giving a short-term bearish view around the 76,000 level since a couple of days ago. Yesterday, I shared again that the short-term bearish idea around 76,000-78,000 remains unchanged, with a target breaking below the 60,000 level, so there’s no real trap. Since holding long-term, you should view the current floating losses with a calm attitude, focus on the price, and not on the returns. The highest rebound overnight was around 79,444; currently, the price has pulled back to around 77,500. From the high point, it’s a nearly 2,000-point correction. Today’s pullback isn’t enough; first, watch the support around 75,200. If this level is broken, pay attention to the support at around 73,500. It’s Thursday, and the market should be entering the second half of the rhythm!
On the daily chart, after two consecutive down days last Saturday and Sunday, this week opened with three consecutive bullish days, continuing to rise. Yesterday closed with a long upper shadow inverted hammer bullish candle. The long upper shadow indicates heavy selling pressure above. After the KDJ and RSI reached overbought levels and turned downward, the market shows signs of a pullback after the surge.
In the short-term 4-hour timeframe, there were five bullish days yesterday, but the rally was resisted at the high, and a pullback with three consecutive down days is likely. After the KDJ and RSI reached overbought levels and crossed downward, MACD shows a bearish divergence. On the hourly chart, the price is pressing down along the lower band, opening the downward space. Short-term traders holding short positions should watch for support at 75,200 and 73,500 today; reduce positions if needed, take profits if appropriate. Swing traders should stay steady with the target of 60,000.
Ethereum’s short-term strategy is to go short around 2,360 to 2,400. Yesterday, the highest rebound was around 2,423. Currently, the price is near 2,330. For those who entered short positions, there are profits. Support levels below are 2,300, 2,250, and 2,200; the idea remains unchanged. For those without short positions, the plan from yesterday still applies: go short around 2,400 to 2,450 to participate.