Post
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April 7th, Monday
The market is changing. Today, I won't directly talk about levels but will share some thoughts.
BTC.ETH.SOL daytime viewpoints.
BTC
Dropped from 835 to 766, a decline of nearly 6000 points, with all minor support levels being broken. After a drop to 770 in the morning, it rebounded to 793, but then started to fall again to the current 766. The rebound strength is still insufficient, and it is clearly testing the daily support at 765. For the rebound to be considered sufficient, it must exceed 793 and not drop below 780 on a pullback. If the daily support at 765 is broken, the next level will be around 750-745, which was not touched previously. Let’s wait around these two levels for now; I personally suggest not to chase the market.
Regarding why the market suddenly dropped, I believe it is largely related to the US stock market. The US stocks have been crashing while BTC was previously supported by funds, not following the drop. As the decline in the US stock market stabilizes, it might lead to a significant outflow of funds seeking to bottom out in the stock market, and without sufficient funds supporting cryptocurrencies, there may be some panic in the market about whether cryptocurrencies will follow the stock market's drop. (Personal opinion)
ETH
Has been relatively weak, with daily support at 1505. For the bulls to regain a four-hour level rebound, it needs to reach 1625 and not drop below 1585 on a pullback. If the daily support at 1505 is broken, it will continue to make new lows, at which point we can look at the area around 1400-1365.
SOL
Simply put, just watch if it can break 100. If it breaks 100, then look at the two levels below 95-86. I can only say that if it drops to 86, I will go all-in on SOL.
For any coins not mentioned, feel free to leave a message for consultation. If you like it, please follow. Specific entry points will be notified later.
#加密市场回调
The market is changing. Today, I won't directly talk about levels but will share some thoughts.
BTC.ETH.SOL daytime viewpoints.
BTC
Dropped from 835 to 766, a decline of nearly 6000 points, with all minor support levels being broken. After a drop to 770 in the morning, it rebounded to 793, but then started to fall again to the current 766. The rebound strength is still insufficient, and it is clearly testing the daily support at 765. For the rebound to be considered sufficient, it must exceed 793 and not drop below 780 on a pullback. If the daily support at 765 is broken, the next level will be around 750-745, which was not touched previously. Let’s wait around these two levels for now; I personally suggest not to chase the market.
Regarding why the market suddenly dropped, I believe it is largely related to the US stock market. The US stocks have been crashing while BTC was previously supported by funds, not following the drop. As the decline in the US stock market stabilizes, it might lead to a significant outflow of funds seeking to bottom out in the stock market, and without sufficient funds supporting cryptocurrencies, there may be some panic in the market about whether cryptocurrencies will follow the stock market's drop. (Personal opinion)
ETH
Has been relatively weak, with daily support at 1505. For the bulls to regain a four-hour level rebound, it needs to reach 1625 and not drop below 1585 on a pullback. If the daily support at 1505 is broken, it will continue to make new lows, at which point we can look at the area around 1400-1365.
SOL
Simply put, just watch if it can break 100. If it breaks 100, then look at the two levels below 95-86. I can only say that if it drops to 86, I will go all-in on SOL.
For any coins not mentioned, feel free to leave a message for consultation. If you like it, please follow. Specific entry points will be notified later.
#加密市场回调