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4.27 Market Outlook
Good evening, everyone. I'm Xin Ya. Let's do a quick recap of the weekend's action. Last Friday, we mentioned that the weekend would either consolidate or sneak up a bit. Throughout the weekend, Bitcoin fluctuated in the 77000-78300 range, consolidating even more narrowly than expected. Until around 3 AM on Monday, buying pressure tested upward, and by 9 AM, it hit a peak of 79500. After that, buying momentum dried up, and the price retraced back to the 77500 divergence zone. Pay special attention, as the sell-off started at 1 PM, solidifying the market's fake-out. The sell-off price was in the 78800 range. This was a key level I highlighted last Friday.
As for Ethereum, it traded in a narrow range of 2300-2320 over the weekend. Around noon on Sunday, buying pressure began testing upward, forcing liquidation at 2335 and 2360. During the day, it peaked around 2400. The former was also a key level I pointed out last Friday. Clearly, the ability to catch divergence points was decent, right? Honestly, no need for a recap—it's obvious that Bitcoin is a bit hesitant, and Ethereum's movement lacks structural buildup, just forcibly liquidating shorts. The market has no confidence, and the trend is merely at the tail end of a rebound.
Currently, Bitcoin is sitting at the 77500 mark near the 1-hour EMA120 and EMA144. Expect it to dip and test the 4-hour EMA120 around 75200. Ethereum has already broken below the 1-hour EMA120 and EMA144 at 2335. However, the 4-hour EMA120 and EMA144 sit at 2280, which likely won’t hold, while the daily EMA30 is at 2260. So, the market might dip down to 2260-2280 before consolidating for a while. After that, whether it grinds slowly or rebounds will depend on the market's reaction at that time.
These past few days, Ethereum's volatility has outpaced Bitcoin's significantly, and they’ve been consolidating for a long time, ready for a big liquidation. Many trapped positions will have their stop-losses set at those critical levels mentioned above, so after triggering those stops, a continuation move is reasonable. For now, both coins are looking at 75500 and 2238 respectively. The second part will depend on how the market reacts moving forward.
Feels like I've been busy all of April, and with Labor Day coming up, I hope you can make some profit before then and take your family out for some fun. The overall result for March was great—just look back to see how great it was. Almost a three-week winning streak. So, I've basically taken three weeks off in April. Right now, I'm alone in the villa, feeling pretty lonely. #btc
Good evening, everyone. I'm Xin Ya. Let's do a quick recap of the weekend's action. Last Friday, we mentioned that the weekend would either consolidate or sneak up a bit. Throughout the weekend, Bitcoin fluctuated in the 77000-78300 range, consolidating even more narrowly than expected. Until around 3 AM on Monday, buying pressure tested upward, and by 9 AM, it hit a peak of 79500. After that, buying momentum dried up, and the price retraced back to the 77500 divergence zone. Pay special attention, as the sell-off started at 1 PM, solidifying the market's fake-out. The sell-off price was in the 78800 range. This was a key level I highlighted last Friday.
As for Ethereum, it traded in a narrow range of 2300-2320 over the weekend. Around noon on Sunday, buying pressure began testing upward, forcing liquidation at 2335 and 2360. During the day, it peaked around 2400. The former was also a key level I pointed out last Friday. Clearly, the ability to catch divergence points was decent, right? Honestly, no need for a recap—it's obvious that Bitcoin is a bit hesitant, and Ethereum's movement lacks structural buildup, just forcibly liquidating shorts. The market has no confidence, and the trend is merely at the tail end of a rebound.
Currently, Bitcoin is sitting at the 77500 mark near the 1-hour EMA120 and EMA144. Expect it to dip and test the 4-hour EMA120 around 75200. Ethereum has already broken below the 1-hour EMA120 and EMA144 at 2335. However, the 4-hour EMA120 and EMA144 sit at 2280, which likely won’t hold, while the daily EMA30 is at 2260. So, the market might dip down to 2260-2280 before consolidating for a while. After that, whether it grinds slowly or rebounds will depend on the market's reaction at that time.
These past few days, Ethereum's volatility has outpaced Bitcoin's significantly, and they’ve been consolidating for a long time, ready for a big liquidation. Many trapped positions will have their stop-losses set at those critical levels mentioned above, so after triggering those stops, a continuation move is reasonable. For now, both coins are looking at 75500 and 2238 respectively. The second part will depend on how the market reacts moving forward.
Feels like I've been busy all of April, and with Labor Day coming up, I hope you can make some profit before then and take your family out for some fun. The overall result for March was great—just look back to see how great it was. Almost a three-week winning streak. So, I've basically taken three weeks off in April. Right now, I'm alone in the villa, feeling pretty lonely. #btc