The Bitcoin and Ethereum markets are both experiencing range-bound fluctuations after facing resistance at high levels. Bitcoin gradually moved higher during the early hours, supported by the lower support level, approaching around 69,200. Ethereum also tested the 2,130 level simultaneously. From early morning to the white dawn, the trading strategy mainly focused on buying on dips, participating in batches based on support levels after pullbacks. The low-level support was relatively solid, and the overall trend was in line with expectations. However, after reaching the high levels again, the bulls failed to sustain increased volume, and selling pressure gradually intensified. Subsequently, the market entered a consolidation phase, with Bitcoin retracing to around 67,710 in the evening, and Ethereum dipping to about 2,058. This indicates that after the high-level chips loosened, short-term capital was more willing to realize profits. Nonetheless, some support remained near the lows, and the market has not yet formed a clear directional trend. Instead, it continues to oscillate around key structural levels.

From the current 4-hour chart, Bitcoin previously faced resistance near 69,200. The upper band of the Bollinger Bands failed to expand further, and the price returned below the middle band. The middle band, which previously acted as support, has gradually turned into short-term resistance. The moving averages are beginning to converge downward, indicating that short-term momentum is consolidating. Notably, after failing to break the previous high, a series of declining candles appeared, forming clear minor resistance at high levels. If the rebound cannot stabilize above 68,600, the overall trend will likely remain weak and consolidative. The first resistance above is in the 68,600–68,800 range, with stronger resistance still near 69,200. On the downside, attention should be paid to the support around 67,500, which is both a previous support zone after pullbacks and the first line of support in the current short-term structure. If this level is broken, the price is likely to seek stronger support around 67,000. Ethereum's trend is synchronized; after facing resistance at 2,130 and pulling back, the 4-hour middle band was broken, and the market continues to trade below the short-term moving averages. Currently, the 2,095–2,110 zone forms a clear resistance band. If the rebound fails to break through this zone, there is a possibility of further testing lower levels around 2,055 and 2,035.

Operationally, the current strategy remains clear: focus on shorting on rebounds, avoid rushing into shorts at low levels, and wait for the market to enter resistance zones before participating accordingly. This approach aligns better with the current structural evolution. #Gate广场四月发帖挑战 $BTC