April 14th Bitcoin and Ethereum Market Analysis


Bitcoin experienced a short squeeze overnight due to negative funding rates and rising open interest, breaking through the 73.7k distribution gap and reaching the highest point of the month. After continuous distribution by long-term funds, if no institutional support appears, the market will naturally decline. The 72.7k accumulation gap is likely to be filled, serving as a target for intraday pullback. The strong resistance zone is around 76k, and a pullback to 72.5k-73k can be seen as a new rebound opportunity.
Ethereum followed Bitcoin's surge but still faces significant selling pressure above, making short-term long positions riskier. From a technical perspective, further upward movement requires first digesting the current selling pressure. In terms of trading strategy, focus on the correction zone after a pullback, paying close attention to support around $2,290-$2,310.
Trading Suggestions:
Intraday support: 72,600-73,100 — Long
Intraday resistance: 75,800-76,300 — Short
BTC1,2%
ETH2,33%
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