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Market analysis on April 16

04-16

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Bitcoin price is currently in the swing range of the technical chart, fluctuating between 60800 and 64500. The establishment of a bearish trend requires the price to fall below the 60800 support level, while the price needs to return to above 64500 to restart the rebound trend. At present, the USDT and USD trading premium still exists. At the same time, the impact of special events such as the end of the US tax season and the halving of Bitcoin on the price is gradually increasing. These factors lead to slow price fluctuations. #Frontier市场分析#btc

Currently, the market is most interested in option trading on April 26 and May 3. According to the smile curve, option investors are not betting on a single price, but expect that the price volatility will increase significantly before and after the Bitcoin halving. The long volatility strategy has become a common choice for option traders, which also increases the difficulty for futures and spot investors to participate in the current market transactions!

According to the CEX chip tendency indicator CECT created by @FrontierLab_ZH , funds in the USDT exchange continue to maintain short expectations, and the indicator value continues to decline, which means that the bullish trading sentiment has reached a freezing point. The freezing bullish sentiment is the main reason for the frequent price surges and declines.

Considering the possible divergence between market sentiment and price fluctuations, especially in the case of price range fluctuations, market sentiment has shown extreme pessimism; at the same time, Bitcoin halving is regarded as a major event that affects prices, so the risk of participating in futures/spot trading in the current range is relatively high. The following strategies can be considered: 1. Use BTC options for hedging to avoid the risk of prices falling below 60,800! 2. Long trades on Altcoins that trigger oversold prices. Compared with Bitcoin, the selling pressure of Altcoins has been released!

Website: Frontier Lab

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Telegram channel: https://t.me/frontierlab

Sector:

DeFi

Halving Tokens

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.

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