April 14th Market Analysis from LBank Derivatives
BTC has been maintaining high volatility for several days, with market sentiment remaining bullish. ETH, on the other hand, has continued to rise after the Shanghai upgrade, and has not seen the expected drop after the hype, currently holding steady around 2100, making it one of the strongest mainstream currency pairs in the near term.
However, caution is advised in regards to the overall market outlook, as altcoins are showing signs of catching up, but have not yet shown any signs of a reversal.
Looking at the 4-hour chart for BTC, after a short-term adjustment, the market has once again risen to new highs, with the price now only one point away from the 31000 point mark, with a possibility of continued high volatility in the future.
The 4-hour chart for ETH shows that with the help of the Shanghai upgrade event, it has strongly broken through the previous resistance level of 1900, and after a short-term adjustment around the 2000 level, it has continued to rise to the 2100 level.
The trend is relatively strong, and it is recommended to be cautious about short selling and buy on dips in the future.
Notable Altcoins
Looking at the 4-hour chart for ARB, after the analysis on April 7th, the bottom continued to rise, and large funds continued to add positions, so it is not recommended to short sell again.
The current market has risen to above 1.5, reaching close to the highest point of the opening, and is now waiting for a pullback.
LTC has been influenced by the overall market sentiment and has successfully broken through the oscillation range and risen to around 98.
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Disclaimer: The opinions expressed in this blog are solely those of the writer and not of this platform.
