Market analysis on April 8

1. Market analysis of pancake

1. Market analysis of pancake

From the trend of pancake, we can see that the market has come out from the bottom and has double-needle bottoming. The trend of the double bottom has been consolidating for a period of time at 67000-68000 and then impacted 70000-69000 to continue consolidation. This consolidation has gone through two rounds of consolidation in a very short time. The market reached the high point of 70300 last night, and then quickly fell back to the 69000 position to continue consolidation. The market has been consolidating within the price range of 2000 for about a week, which is a downward correction consolidation. The probability of the market continuing to fall again is very high. Today, it is still recommended to operate at high altitude as much as possible during the day. The position above 70000 is still our priority position. The position of 69000 can be considered for low absorption below.

2. Analysis of the market of Yitai

From the trend of Yitai, we can see that the market broke through the 3300 position in front and came to the 3460 position above to start a round of correction, and then went on the 3rd wave trend. In the early morning of today, the market also stepped back to the front support position of 3380. The correction of the 4th wave today can be seen in the 3300-3280 area below, and the upper pressure can be seen in the 3480-3500 area for short selling.

2. News situation

The US government began to sell the cakes seized from the Silk Road continuously, selling 600 pieces for three consecutive days, and will continue to sell the remaining 200,000 pieces of cake in the future. The market heat of Yitai has obviously decreased since the completion of the Cancun upgrade, but the heat of retail investors has increased. $BTC $ETH $SOL