04/26/19 US Stock Market Hits Historical High Again, BTC Downward Trend Tested, Pay Attention to Rebound Opportunities
All three major US stock indices have reached historical highs. From last October to the end of March, there was a high-level consolidation and pullback for about four to five months, but it only took two weeks to make a new high. I mentioned in my last analysis of the US market that it has been quite dynamic, feeling a bit like a ride where people want to get off. Currently, the global financial market environment remains relatively optimistic, so the pressure on Bitcoin market will also relatively decrease.
Gold and silver are also in high-level consolidation and currently experiencing a rebound; however, the upward pressure is quite significant, and it will take more time.
Bitcoin
After reaching a high of 78,300, it has pulled back and recently touched the daily downward trend line. The price staying above 73,000 still holds the opportunity for upward rebound.
The weekly MACD bottom divergence fast and slow lines have crossed back over the zero axis, temporarily maintaining momentum for a rebound. In the short term, the 4-hour chart is showing a pullback, thus it is not advisable to be overly bearish but to seize low buy opportunities.
Support: 70,000 to 73,000
Resistance: 83,000 to 95,000
Ethereum
Ethereum has broken through the high of 2,385 and is currently in a pullback; short-term attention should be paid to the support from the 4-hour ascending trend line.
The weekly MACD shows divergence with fast and slow lines crossing, and the weekly chart is leaning towards a rebound while the daily chart is near the downward trend line under short-term pressure. On the 4-hour level, the key support is at 2,200; if it maintains above this price, there will still be a chance for a rebound.
Support: 1,900 to 2,150 to 2,200
Resistance: 2,600 to 2,800
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This article is time-sensitive and is for reference only; it will be updated in real-time.
Focusing on K-line technical research, sharing global investment opportunities. Public account: BTC Trading Young Master Fusuo
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