Macro Overview
Crypto Markets Overview
Top Tokens Update
“Big Picture: Upcoming Weeks’ Key Economic Events”
| DATE | TIME | EVENT | USUAL EFFECT |
| Apr 2 | 7:30 PM | US JOLTS Job Openings | Actual’ less than ‘Forecast’ is good for crypto |
| Apr 3 | 9:40 PM | US Fed Chair Powell Speaks | More dovish than expected is good for crypto |
| Apr 4 | 6:00 PM | US Unemployment Claims | Actual’ greater than ‘Forecast’ is good for crypto |
| Apr 5 | 6:00 PM | US Unemployment Rate | 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, despite bearish news such as those involving Coinbase and KuCoin, BTC exhibited volatility but ultimately yielded positive returns. BTC is holding steady above the 20 EMA D, and ETF inflows are once again on the rise. The resilience of BTC in the face of adverse macro data and market news indicates bullish sentiment, with expectations for a new all-time high.
- Key support levels to consider are around $69,000 , $65,550 & $62,000 . On the upside, resistance levels is at $71,400 and $72700.
- 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 trailed behind BTC but still showed positive growth, maintaining an upward trajectory. ETH/BTC remains at a support level, and a rise in this pair is crucial for the momentum of ETH and other altcoins. Technically, ETH is holding above the key level of $3500, with $3650 as the next target for a significant upward move.
- Significant support levels include $3425, $3300 , and $3200, 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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