🍎Market outlook for the midday of April 23. 🍎

$BTC Viewpoint:
After breaking to a new high, Bitcoin did not manage to hold above the 79,215 resistance; instead, a top formation bearish engulfing pattern appeared, marked by the white box. The appearance of this pattern means Bitcoin on the hourly timeframe needs a pullback. Can you short? You can—but only a short-term short. Why only a short-term short? Because this bearish engulfing pattern has not broken below the neckline of 77,927. As long as it has not broken the consolidation zone marked by the yellow box, the lower lows have not appeared. Since the lower lows have not appeared, the uptrend marked by the yellow box has not been broken. Therefore, you can only short in the short term. When it breaks 77,927 and forms a lower low, then you can get into the bigger/clearer picture for a short.
Someone might say: isn’t the candlestick pointed to by the white arrow below already broken through the 77,927 neckline? It was broken—but this was a false break that tested the 77,561 support. Didn’t the body close price end up still closing above 77,927? The appearance of this candlestick indicates that the bears did not overpower the bulls; otherwise, it wouldn’t have formed a hammer line. Right now, Bitcoin can only move downward after breaking 77,927 to pull back and test the 76,272 level below. If it doesn’t break 77,927, it cannot drop. If it breaks 77,927 and can’t reclaim it, then the 77,561 level below will also be broken, giving you the opportunity to look further downward. Otherwise, it will trade in a consolidation range of 77,561-79,215 while you wait for direction.
If 77,927 and 77,561 keep failing to break downward, the price will build a base again within this range. After breaking out of the “trumpet” shape, it will once again try to touch the previous high, and even test the 8万 resistance. Don’t just see the decline and think it’s a reversal; it’s only a normal pullback. A pullback is the chance to get you onboard.
Bitcoin breaks out above 78,112 with volume; chase longs on the right side. If 78,802 breaks down with volume and the rebound cannot be recovered, chase shorts on the right side; set your stop-loss properly.
On the hourly timeframe, Bitcoin breaks above and holds 78,112; look upward to 78807-79443. If it can’t get above 78,112, it’s useless.
On the 4-hour timeframe, if it breaks below 78,506, look downward to 76390-75031.
Resistance above: 78112-78807-79443
Support below: 77552-76290-75027
$ETH Strategy:
Second bitcoin pattern with volume breaks above 2357; chase the long on the right side, and take back the stop-loss.
2340 with volume breaks below on the right side; chase the short on the right side, and set/bring along a stop-loss properly.
Pull back to 2287 to confirm support is valid, go long for one more position.
If it breaks below 2251, stop-loss.
Check the comments section.
$BTC $ETH ‌ ‌