4.16 Afternoon Market Analysis$BTC $ETH

Bitcoin today has been trading in an overall range of 73,400-75,400, oscillating and consolidating. The price has been steadily running by leaning on a short-term upward rebound channel. The order book firmly holds the key support level of 74,400, and the bulls’ short-term momentum is still sufficient. This market cycle has played out with a clear deep dip, a strong surge upward, an effective pullback, and then a second upward push structure. Currently, the price is in the second-round upward pressure zone. The overall bullish trend structure remains intact, and there have been no signs of a breakdown or weakening.

In terms of the MACD indicator, after the DIF and DEA form a golden cross at low levels, they continue to widen and move upward. The bullish red energy bars keep expanding and releasing volume, confirming that the short-term market is still dominated by the bulls. However, the peak of the current red bars has not broken through the previous high, indicating signs of a marginal weakening in the bulls’ upward momentum. Going forward, be cautious about the risk of failing to sustain the push higher and the risk of a sideways pullback.

Trading Suggestions
Buy in batches around 74,400-70,000 for Bitcoin. The upside targets are near 75,500-76,500.

Buy in batches around 2,310-2,330 for Ethereum. The upside targets are near 2,400-2,440.