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4.14 Market Analysis and Trading Directions
Last night, Bitcoin bulls maintained strong momentum, pushing upward around 70,500, breaking through multiple resistance levels with increased volume, and this morning accelerating further to a new high in the current phase (reaching 74,870). From the current market situation, the bulls have completely taken control. The daily chart again shows a full-bodied large bullish candle, breaking the previous downward trend line. The altcoin also rose simultaneously, reaching a new high of 2,395 in this phase.
This round of rally was mainly driven by positive news sentiment. After failing to achieve an effective breakout when testing upper resistance, a technical correction is highly likely to follow. The current high-level risk continues to expand, so a light position in short orders is recommended to capitalize on potential pullbacks and profit from the decline from the highs.
Bitcoin short around 74,500-75,000, target near 73,500
Ethereum short around 2,370-2,400, target near 2,300