April 9 Market Analysis: Maintain the original view, expect a trend reversal around mid-month, and focus on the midline support in the near term.

Last night's market was very classic again, opening with a rally then falling back, a continuous decline. The failure of Bitcoin's daily consecutive bullish candles once again indicates that the trend establishment is invalid. Therefore, we maintain the original view of a trend reversal around mid-month. The daily upper band failed to produce consecutive bullish candles, and according to the oscillation logic, the next focus is on the support at the midline. So, in the next couple of days, we will see whether it can find support at the midline and enter a narrow range before the trend direction is decided around mid-month.

$BTC First, check if Bitcoin can find support and rebound around 69,200-69,500 below. The resistance above is at 72,300. Only if the hourly close is above this level should we watch for further upward movement; otherwise, look for support above to go long.

$SOL For Solana, check if the hourly candle can close above 84.2 to complete the support-resistance switch, which could lead to resistance at 86.5. Support below is at 80.2-80.6, where a rebound might be seen.

$ETH The idea for Ethereum is similar to Solana. The support-resistance switch occurs at 2200. After the hourly close above this level, resistance might be seen at 2228. Support below is at 2120-2140.

In summary, the market maker is once again fake-out, and the trend reversal point is likely around mid-month. These days, expect narrow fluctuations near the midline, and only around mid-month might a major trend emerge again. So, the current days are better suited for range trading. Focusing on next week would be more appropriate. If you don’t understand the market or are unsure about the direction, feel free to join the Chief Analyst. Click to join the Chief Analyst community (Follow the Chief Analyst for daily market analysis and precise entry points. Long and short ideas are for reference only, with strict stop-loss and take-profit rules). #Gate广场四月发帖挑战