"April 21 Market Analysis: Bitcoin Urgently Needs a Breakthrough, The Market Requires More Patience."
The section chief is back. Last week, before departure, the guidance was bullish, and the trend did indeed reverse within the predicted time cycle. However, the upward momentum isn't very strong, and the price has been bouncing around this level for several days. So, how will the subsequent market develop? First, on the daily chart, last week's rally just touched the downward trend line on the daily chart (logarithmic scale). But across the entire moving averages, the overall trend remains bullish, and the CCI here needs to reach 100; the bullish outlook is still the main direction. Therefore, the current key issue is that the daily chart urgently needs to break out. To achieve this breakout, we need to look at smaller timeframes to find entry points on the left side.
$BTC First, watch when Bitcoin's green trend line in Chart 1 is broken. If it falls below, look for support at the red trend line between 72,500 and 71,800 to rebound. The resistance above is at 78,900 and 81,100.
$SOL For Solana, first observe when the hourly close exceeds the resistance level at 86.7. The next resistance is at 89, and support below is at 82-81.5 to look for a rebound.
$ETH For Ethereum, first watch when the hourly close exceeds the resistance level at 2,360. The next resistance is at 2,420, and support around 2,210 to look for a rebound.
In summary, Bitcoin's daily chart urgently needs to produce another bullish candle to break through the major trend line. Here, we focus on bullish positions on the left side for entry. If successful, the profit potential is huge. So, the key decision is: whether to complete the trend line breakout and move out of the trend, or to stay cautious and follow your trusted direction. If you don't understand the market or can't determine the direction, welcome to join the section chief. #GatePreIPOs首发SpaceX
The section chief is back. Last week, before departure, the guidance was bullish, and the trend did indeed reverse within the predicted time cycle. However, the upward momentum isn't very strong, and the price has been bouncing around this level for several days. So, how will the subsequent market develop? First, on the daily chart, last week's rally just touched the downward trend line on the daily chart (logarithmic scale). But across the entire moving averages, the overall trend remains bullish, and the CCI here needs to reach 100; the bullish outlook is still the main direction. Therefore, the current key issue is that the daily chart urgently needs to break out. To achieve this breakout, we need to look at smaller timeframes to find entry points on the left side.
$BTC First, watch when Bitcoin's green trend line in Chart 1 is broken. If it falls below, look for support at the red trend line between 72,500 and 71,800 to rebound. The resistance above is at 78,900 and 81,100.
$SOL For Solana, first observe when the hourly close exceeds the resistance level at 86.7. The next resistance is at 89, and support below is at 82-81.5 to look for a rebound.
$ETH For Ethereum, first watch when the hourly close exceeds the resistance level at 2,360. The next resistance is at 2,420, and support around 2,210 to look for a rebound.
In summary, Bitcoin's daily chart urgently needs to produce another bullish candle to break through the major trend line. Here, we focus on bullish positions on the left side for entry. If successful, the profit potential is huge. So, the key decision is: whether to complete the trend line breakout and move out of the trend, or to stay cautious and follow your trusted direction. If you don't understand the market or can't determine the direction, welcome to join the section chief. #GatePreIPOs首发SpaceX
