Yueying: Bitcoin and Ethereum Market Analysis (April 22nd) - Long Positions Prompted to Take Profits, Phase of Adjustment Completed, Aiming for 80,000?

The price action on Bitcoin, which was around 74,800 as mentioned above, precisely reached 74,770, resulting in a 3,600-dollar move. Looking at the daily chart, the previous candlestick closed positive and found support at the moving averages. Intraday trading continued the strong upward momentum, briefly breaking the previous high above the upper Bollinger Band. The Bollinger Bands are widening upwards, short-term moving averages are trending upwards, the MACD fast and slow lines are extending upwards with increasing volume, and the KDJ is trending upwards, with resistance around the 100 level. The VR indicator is consolidating around the 160 level. On the 4-hour chart, after finding support at the lower Bollinger Band and the 60-day moving average, the price has risen consecutively and is currently trading above the upper Bollinger Band. The Bollinger Bands are widening, short-term moving averages are trending upwards, the MACD fast and slow lines are extending upwards with increasing volume, the KDJ is trending upwards, with resistance around the 110 level, and the VR indicator is consolidating around the 120 level. Overall, the price action has shown strength, with a successful pullback and test of support. However, it's important to note that the current level also represents resistance from last week's high. Therefore, short-term trading should focus on buying on pullbacks. The short-term resistance level to watch is around 89,000. If it breaks through, the next target is the psychological level of 80,000. Support is around 76,000. See short-term recommendations below. Bitcoin short-term recommendation: Short at 78,500, Long at 76,500 (Take profits as needed). Ethereum's price action has retraced after a false breakout around 2400. It's currently trading above the upper Bollinger Band on the 4-hour chart. The overall technical analysis and trend should be referenced in conjunction with Bitcoin. The short-term resistance level to watch is around 2450, and support is around 2300. See short-term recommendations below. Ethereum short-term recommendation: Short at 2435, Long at 2330 (Click the image to see the homepage introduction for more cryptocurrency analysis). —I am Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together!