Macro Overview
Crypto Markets Overview
Top Tokens Update
“Big Picture: Upcoming Weeks’ Key Economic Events”
| DATE | TIME | EVENT | USUAL EFFECT |
| Apr 10 | 6:00 PM | US CPI y/y | Actual’ less than ‘Forecast’ is good for crypto |
| Apr 11 | 6:00 PM | US PPI m/m | Actual’ less than ‘Forecast’ is good for crypto |
| Apr 11 | 6:00 PM | US Unemployment Claims | Actual’ greater than ‘Forecast’ is good for crypto |
Note: “Events in red font signify severe impact, while those in yellow indicate moderate.”
Bitcoin Technical Analysis
Summary:
- The current sentiment around BTC is bullish.
- This week, BTC remained range-bound but has shown signs of recovery. It’s consistently finding support at the 200 EMA 4-hour level and creating higher lows, which is bullish. BTC needs to surpass its previous all-time high level for further price discovery. Currently, it’s trading between two high leverage liquidation levels at $72,850 and $71,400, which need to be cleared first. Overall, the outlook is positive.
- Key support levels to consider are around $69,000 , $66,300 (200 EMA 4H) & $61,400 . On the upside, resistance levels is at $72900 & $73700.
- It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavors.
Ethereum Technical Analysis
Summary:
- The current sentiment around ETH appears bullish.
- This week, ETH also traded within a range but has begun to outperform BTC as ETH/BTC shows signs of a slight recovery. However, ETH needs to maintain this outperformance for alts to rally effectively. Currently, ETH is lagging behind and needs to clear the levels indicated in the chart for a stronger move. Overall, the outlook is positive, especially with favorable conditions in the general market and the upcoming ETH ETF decision in may.
- Significant support levels include $3490, and $3190, while resistance levels to watch are at $3650, $3870 and $4070.
- These levels play a crucial role in determining potential price movements. It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
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