In the past 24 hours, 112,726 people worldwide have been liquidated, with a total liquidation amount of $278 million. Bitcoin failed to break out today, and trading is still within a range. US stocks rallied at the close last night, but crypto fell after the close. Currently, trading volume is extremely low, liquidity is thin, and crypto lacks confidence, completely dependent on the performance of US stocks. There won't be a clear direction today.
Currently, counterfeiters all employ a rogue-like approach, making a quick profit and then leaving, with almost no sustainability. Whether they make a profit or not is not very meaningful, as few people are actually lying in wait. Moreover, once the situation changes, profits are given back or even losses are incurred.
BTC
The BTC daily chart shows a bullish engulfing pattern, and the 4-hour rebound has completed two-thirds of its move. The upward momentum is still somewhat weak. If it can break through the recent resistance levels of 76850/77000 in one go, it will likely test the 78200-78850 range again. Overall, the market is not actually weak, and we can still primarily focus on long.
(1) The first support level today is around 75085, followed by 74600-74250. We can continue to buy on dips. Before 77000 is broken, we can take profits on some of our positions during the short-term rebound between 76200-76800.
(2) Reduce positions to defend 73000. The support at 73000 is very strong. Even if the price drops to that level, it is a good place to add to positions. The rebound is likely to reach above 74600.
(3) Short points: Continue to short between 78000 and 81000.
ETH
The daily chart structure for ETH is not very attractive. The fast and slow lines have closed and are trending downwards, indicating that the short-term rebound is unlikely to hold. It is advisable to take profits on short-term long positions promptly.
Last night's nearest resistance was around 2340, the middle line of the 8-hour Bollinger Bands. When the rebound is not very strong, the profit-taking steps for short-term long positions with high leverage should be smaller. If it is a trend position with medium to low leverage, it is still fine to set the target above 2440.
In the short term, maintain a buy-on-dips strategy between 2278 and 2256, add to long positions between 2244 and 2222, take partial profits on a rebound to 2316-2336, and set a stop-loss at 2200. A break above 2362 would indicate an upward trend.
ZEC
Grayscale Trust increased its holdings of ZEC by $46 million. The 12-hour chart shows a rounded bottom and bullish flag pattern indicating potential for further gains. The RSI has completed its momentum recovery, the MACD golden cross remains intact, and trading volume remains high. Currently, the four-hour flow has broken through the zero line; once this breakout occurs, the daily downtrend will end. Price action is expected to target the 322-326 range for both breakout and resistance.
RAVE
RAVE fell to 0.48 yesterday and rebounded to 2.7 today with a trading volume of 2 billion. The current expense ratio is quite high, currently at a positive 0.35. At the 1.95 level, the upside resistance is at 2.2, and the downside support is at 1.2-1.3 . There's a high probability of a sell-off for the bulls! Place a short around 2.20, with a secondary order around 2.5! The target is around 1 dollar!
EDU
Although EDU24h surged by 54.83% at one point, reaching a high of 0.089, it has now quickly retreated. The short-term gains were excessive, and profit-taking is extremely concentrated. Starting April 28th, tokens have been continuously unlocked on the 28th of each month, resulting in a large number of tokens being unlocked for several consecutive months, meaning selling pressure will persist for a long time.
Currently, after a sharp rise from the low of 0.043, a clear upper shadow and a bearish death cross have appeared. The MACD shows signs of a bearish crossover at a high level, and the RSI has also fallen back from the overbought zone, a typical pattern of a surge followed by a pullback. The initial target is the 0.052-0.048 range, with a 25-35% gain being achievable. If selling pressure is released, 0.04 or even 0.035 is possible.
PTB
PTB is a BTC ecosystem project, purely developed by foreign investors, with a low market capitalization, high open interest, and the market has completed its consolidation phase. It is bullish, with a stop-loss at 0.00077 and a target of 0.0012.
NAT
The BTC ecosystem has 3300 holding addresses. Currently, there is a price difference between NAT on the BTC chain and the ETH chain, presenting an arbitrage opportunity! The Bitcoin chain is currently a bit congested, but the price is still 23; while the ETH chain price has reached 38. Those who want to buy or arbitrage should go directly to the BTC chain.
