#BTC Tuesday, April 7th, early morning Bitcoin and Ethereum latest ideas and analysis

Learning, review, position control, execution — repetition to the extreme makes a master. Throughout the day, Bitcoin and Ethereum showed a pattern of rising to resistance and then consolidating with weak volatility. After a low-level correction in the early hours, it seemed to form an upward trend. Bitcoin stabilized around 67,000 and then surged, briefly breaking above 70,200 during the daytime. Ethereum also moved from around 2030 to about 2170, but the upward momentum was clearly insufficient, with bulls lacking sustained volume to support the rally. The seemingly strong trend actually hides the risk of a pullback, and blindly chasing longs could easily trap you at high levels.

Based on the current market, the four-hour structure is under pressure. Bitcoin is in a high-level stagnation phase in the four-hour cycle. After rising above 70,200, it has been unable to effectively break through the key resistance level. The upper band of the Bollinger Bands is exerting strong resistance, and the bands are gradually narrowing, indicating that the upward space is about to close. Short-term bullish momentum has already exhausted. The support zone around 68,800-69,000 is essentially the last line of defense for the bulls. The current price has tested this area multiple times, with a high probability of breaking below. Once it falls below this range, it will confirm a short-term trend reversal, and bears will take full control of the market. The price hit a new intraday high, but technical indicators like MACD and RSI are showing divergence, with volume and price also diverging — rising with no volume, falling with increased volume. This fully indicates that this rally is a false move, and a deep correction is highly likely to follow. The strong resistance levels above are at 70,500 and 71,200, making further breakthroughs difficult.

Tuesday, April 7th, early morning
BTC: Short around 70,500, target 68,500
ETH: Short around 2,180, target 2,100