April 3rd, Friday, Morning Market Analysis.

From a technical perspective, on the four-hour chart, after the trading channel opened, the price failed to stay above the upper band and continued to move sideways, forming a consolidation that caused a sharp decline. The volume was decreasing and unable to support a breakout, and the moving averages were also converging and reversing. In the short-term, there was clear resistance at high levels. After a strong rally, some consolidation and bottoming are needed, and the lower space remains to be further tested.

On the one-hour chart, the price struggled to stabilize at high levels, directly breaking through the upper boundary with a flood of selling, and the bearish volume showed a clear distribution, causing the moving averages to turn downward. After a quick dip, there was some recovery, but it was a normal correction after a retest. The short-term pullback and adjustment are strongly evident. Our upcoming strategy will mainly focus on shorting from higher levels.

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