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4/16 Market Watch | Analysis of Afternoon Trends and Trading Ideas for BTC and ETH
At present, BTC and ETH overall continue to hold a range-bound market structure. Although the short-term shows slight bullish signals, trading volume keeps shrinking. The divergence between volume and price highlights insufficient upward momentum, and the risk of chasing rallies is relatively high. In the external sentiment side, the market is in an extreme fear zone. Investors are strongly pessimistic, with sell-off pressure having accumulated somewhat. Under the ongoing struggle between bulls and bears, the short-term trend is highly likely to continue with range-bound consolidation, making it hard to see a one-direction trend.
In terms of trading, it is recommended to follow the trend and open short positions with a light position size:
BTC: You can enter short positions around 75,200-75,500, with the first target at 74,000 and the further support at 73,500.
ETH: You can enter short positions around 2,370-2,400, with the initial target at 2,320, and after a dip, watch the key support at 2,300.
Warm reminder: Market volatility is extremely fast. There may be a delay in article review. The above strategies are for reference only. Please manage risk properly when trading; profits and losses are your own responsibility!
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