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Judging from the daily naked K-structure, Bitcoin is in a gradually narrowing oscillation range: the upper edge is about 77800-77800-78500, and the lower edge is about 75000-75000-75500. The compression of this range has been ongoing for over a week, and the K-line entity has generally shortened, with a high balance of long and short forces. From the perspective of naked K-form, a clear "short selling imprint" was formed around 79000- in mid April, BTC surged towards 79000 and a clear "short selling imprint" was formed - in mid April, BTC surged towards 79500 and encountered active sell orders of about 1.2 billion US dollars, with a long shadow line at the daily closing, which is a typical "rejection signal" K-line. Afterwards, there were multiple long upper shadow rejections in the area, and multiple bullish attacks were suppressed, forming a clear short-term supply zone.
More structurally, there is a large active selling wall in the 80500-80500-82000 range that lasts for more than 24 hours - not individual orders or short-term pending orders, but continuously maintained and evenly spaced selling areas. Previously, about 298560 BTC accumulated purchases in this area, forming a natural defense zone for price recall; This support level basically coincides with the lower edge of the upward channel of the 20 day moving average and the 100 day moving average, forming a multiple technical convergence effect; Judging from the 4-hour naked K-structure, this region has received bearish pressure several times and formed a downward support line.
Compared to Bitcoin, Ethereum's short - to medium-term state is more sluggish. Since hitting $2465 in mid April, ETH has gradually declined - the daily chart has repeatedly shown a passive pattern of "upward attacks being rejected - falling back to stop bleeding", indicating a significant lack of rebound momentum and a clear overall weak structure. ETH has formed a continuous moving average suppression zone near the range of 2300-2300-2310- EMA15 around 2297, EMA30 around 2297, EMA30 around 2260 have all fallen below, and EMA60 around 2249 is also in a precarious position. The daily candlestick has fallen below the middle Bollinger Bands and is currently running near the lower band. The Bollinger Bands have closed, and the middle band around 2249 is also in a precarious position.
The most critical support level for ETH is currently concentrated in the 2200-2200-2220 range. This region is not only a bottom area that has experienced multiple recent bottoming out and rebounding, but also resonates with multiple candlestick level support lines. From the daily candlestick analysis: Since mid March, the price has tested the resistance zone of 2350-2350-2400 multiple times, all ending with a long upper shadow line being blocked and falling back.
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