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April 4th Double Coin Market Analysis
Moving Average Resistance: MA99 (2,076.26) forms a strong resistance above, and the price has been unable to break through, with short-term moving averages also exerting pressure.
Volume Exhaustion: The rebound has been decreasing in volume throughout, with no additional funds entering, indicating that the rebound is destined to be a continuation of the decline.
Clear Bearish Structure: The rebound peaks are continuously decreasing, a typical downtrend, with a complete medium-term downward channel.
Correlation: The main cycle of Bitcoin is weakening, and the decline of Double Coin is much more elastic than Bitcoin, offering higher profit potential for short positions.
Trading Recommendations:
Entry Range: 2,050-2,060 (Build positions in batches as the rebound reaches the moving average resistance zone)
Stop-Loss: 2,080 (Breakthrough of MA99 strong resistance, exit immediately)
Profit Targets:
First Target: 2,020 (Close 50% to lock in profits)
Second Target: 2,000 (Close remaining positions, betting on a deep correction) $ETH