Gu Jingci: Bitcoin and Ethereum Trading Strategies (April 21st) with Market Analysis

Since the multiple short positions were initiated at the highs in Bitcoin/Ethereum, the price has experienced a significant downward trend. Currently, there has been a slight rebound after the initial drop, but the strength is weak, and the subsequent sideways movement resembles a continuation of the downtrend, indicating that the downward trend has not reversed and further declines are likely. The 4-hour candlestick chart shows a small bullish candle with a long upper shadow and shrinking volume, suggesting weakening rebound momentum. The weak rebound and low volume indicate that the market is still in a consolidation phase, and further declines are possible at any time. Looking at the daily chart, after two consecutive bearish days following a surge, yesterday saw a rebound and closed bullish, but it failed to break through the short-term resistance level that previously acted as a support/resistance level. While Bitcoin is generally bullish, Ethereum has failed to break above the daily moving averages, instead facing continuous resistance around the 2340-2350 level. Multiple failed attempts to break through this level could present opportunities to short at higher levels. Trading recommendations: Short Bitcoin around 76,000 to 76,500, with a target of 73,000 to 74,000; Short Ethereum around 2,320 to 2,340, with a target of 2,200 to 2,250.