April 7th BTC/ETH Market Strategy

The oversold rebound zones mentioned last night have mostly been reached. So far, the first wave of rebound has been weaker than expected, and there may be further pullback signals within the day. On the news front, there is both the deadline pressure of the ultimatum and signals of tough non-compromise from Iran. The final outcome remains uncertain.

Bitcoin: Last night, I indicated a range of 68,300-69,000. The price just reached the lower boundary at 68,265 and then rebounded. It touched the upper boundary at 69,000 but has started to fall back. This was a wave move. If the 68,300 support cannot hold, look for support around 67,888 to confirm a bounce signal. The key level for the day is 67,150; if it breaks below this, the effort may be in vain. Therefore, I expect a rebound signal above the key level. For now, use 69,000 as a stop-loss for short positions. Opportunities can be found below this level.

Ethereum: During the night session, it reached the oversold zone in the 2075-2100 range. Currently, it is above 2100 with a target of 2139. Watch whether it revisits the 2075-2100 range; if it does, there may still be a chance to enter a short position to add to the position. The key level is 2055; if it breaks below this, the outlook will look less favorable. For now, use 2120-2139 as a stop-loss zone for shorts. Find a preferred entry point below this level to go short. $ETH