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April 1st, Wednesday, Yifan's morning market outlook update.
From a technical perspective, on the 1-hour chart, the price has been continuously declining with large bearish candles, with no effective recovery. The trading channel is opening downward, with bearish momentum aligned. Moving averages are weakening, and although there are slight rebounds, there are no clear reversal signals. The bearish trend remains unchanged. On the 4-hour chart, after a sharp drop, the price weakly rebounded but then broke below again. The channel continues to expand downward. Currently, the bearish volume is decreasing, moving averages are slowly converging and turning, and there is a need for correction on smaller timeframes, but the momentum is weak. Short-term, there is a rally followed by a pullback, with resistance to recovery. Overall, the outlook remains high-level short positions.
Bitcoin personal trading suggestion: Short around 68,500-69,000, target 66,900-65,900.
Ethereum personal trading suggestion: Short around 2,110-2,090, target 2,050-2,000.