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Tuesday, April 14th Market Analysis.
Yesterday's daytime trading continued to fluctuate, then due to a sudden positive development in US-Iran negotiations, the Strait of Hormuz expectations heated up, and the market rebounded strongly.
It has already touched near the upper band, and this morning the highest price reached around 74,800. Currently, the price is fluctuating around 74,400.
The market is highly likely to see the bulls exhausted and turn bearish.
On the hourly chart, the upper band shows strong resistance and has fallen back; the price failed to stay above the upper band after touching it, forming resistance, indicating that bullish momentum is waning.
MACD momentum is shrinking and gradually converging, with a potential for a death cross.
In the short term, the trend will shift from upward to downward, entering a correction phase.
Negotiations will continue on the 16th, but given the current situation, the chances of successful negotiations are low, and the US is unlikely to make various compensations to Iran!
BTC trading suggestion: 74,500-75,000, take profit at 73,000-72,500, stop loss at 76,000.
ETH trading suggestion: short at 2,370-2,400, take profit at 2,320-2,250, stop loss at 2,440.