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4.13 Mu Feng Afternoon Market Analysis
The ceasefire negotiations between Israel and Palestine broke down, geopolitical risks sharply escalated, and market risk aversion sentiment spread. The overall cryptocurrency market came under pressure and weakened, with a clear bearish trend established.
Bitcoin continued to decline over the weekend, consistently being strongly suppressed by the 72,000 level. The 4-hour moving averages formed a death cross and remained tightly bound. Multiple rebounds were met with resistance and fell back, indicating a clear dominance of the bearish trend. The MACD continued to expand below the zero line, and the KDJ diverged downward. The hourly Bollinger Bands opened downward, and the rebound momentum was severely lacking. Support is first seen at 69,500; if broken, the next key level to watch is 68,500.
Trading Suggestions
Bitcoin
Sell in batches on rebounds between 71,500-72,000
Target 70,000, if broken, then look toward 68,500
Ethereum
Sell in batches on rebounds between 2,210-2,240
Target 2,150, and continue to watch 2,100