4.1 Wednesday Night Bitcoin and Ethereum Latest Market Trends and Analysis

We are born ordinary, but our choices make us extraordinary. In the real world, we are just ordinary people, but in the decentralized world, we have equal access. Looking back at the afternoon, Bitcoin retraced from its high of 69,310 to the current level of 68,456. Ethereum followed the same trend, dropping from its afternoon high of 2,158 to the current level of 2,129.

As of April 1, Bitcoin faced strong selling pressure around 69,500. The 1-hour candlestick chart shows typical signs of bullish momentum exhaustion. Although the price briefly surged to 69,300, it quickly fell back to the 68,000 level and oscillated. Based on comprehensive analysis of volume-price relationship, technical indicators, and on-chain data, short-term bearish signals are accumulating. While Bitcoin’s 1-hour structure is still within a rebound channel, overbought technical indicators, resistance at key levels, and weak capital flow all point to a strong bearish outlook. The market is likely to test support levels around 66,600 or even lower. Therefore, Lao Lei still recommends a high-short strategy tonight.

Evening Trading Strategy
Short around 68,800 for Bitcoin, target 67,000
Short around 2,140 for Ethereum, target 1,950

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