April 16 BTC/ETH:



The S&P and Nasdaq both hit record highs. Can they drive a strong rebound in Bitcoin?

Due to the restart negotiations between the US and Iran, oil prices have fallen back, risk aversion sentiment has cooled, the US dollar index has declined, and US Treasury yields have decreased. Capital is flowing back, and the US stock market has rebounded to new highs. Bitcoin has benefited from this and has also seen a slight rise. Is there sustainability? Based on on-chain spot inflow data, institutions have not yet formed a one-sided buying trend!

BTC
Bitcoin rebounded to reach this year's high of 7600. The pullback is not very strong, making it easy to rebound again to 7600 and form a double top pattern. Above 7600 is a liquidity vacuum zone. Wait for opportunities on the right side at 7600. If major players enter, watch for a breakout above 7720-7930. Currently, the four-hour candlestick shows a shooting star bearish reversal pattern. For support, watch 7440. A break below this level indicates a small-scale correction begins.

Around the 7550-7600 range, defend at 7660, with targets at 7440-7340. If broken, look down to 7250.

ETH
Around the 2392-2413 range, defend at 2455, with targets at 2348-2310. If broken, look down to 2263.
BTC0,62%
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