Wednesday, April 8th, Zhu Gongshi Market Review

Bitcoin and Altcoins Surge Strongly, Bullish Main Wave Officially Begins!

On the early morning of Wednesday, April 8th, the cryptocurrency market experienced a major trend reversal. Bitcoin and altcoins simultaneously launched a violent rebound, completely reversing the previous consolidation pattern. Bullish forces fully dominated the market, and a new main upward wave has now begun!

Market Trend Recap
After Bitcoin retested the key support level at 67,788 in the early morning, it relied on strong support to initiate a one-sided rally. The bulls launched a fierce attack, breaking through multiple resistance levels, with the price reaching as high as 72,700, a short-term increase of over 4,700 points. Currently, the price is firmly above 71,500, establishing a clear bullish trend. Market sentiment remains highly optimistic.

Altcoins followed Bitcoin’s lead in a synchronized rebound, showing strong recovery and breaking free from previous low-volume consolidation. They moved upward in tandem with the market, with a generally strong overall trend. Mainstream cryptocurrencies collectively warmed up, and the overall market atmosphere is very bullish.

Technical Analysis Highlights

From a technical perspective, the two major mainstream cryptocurrencies both show very strong bullish signals:

• The moving average system displays a perfect bullish alignment, with short-, medium-, and long-term moving averages forming golden crosses and supporting the price from below. The price remains above the moving averages, which provide strong support. Every dip to the moving averages presents an excellent low-buying opportunity.

• Short-term indicators also show strength, with the MACD golden cross continuing to expand, indicating increasing bullish momentum. The Bollinger Bands are opening upward, and the price is above the middle band, fully opening the upward channel. There is ample room for further upward movement.

Operational Recommendations

Bitcoin
Buy on dips in the 70,800–71,300 range in batches, strictly relying on moving average support for entries. The first target is 72,800–74,000. If a strong breakout above 74,000 occurs, continue to aim for 75,000. Follow the trend for bullish positions.

Altcoins
Buy on dips in the 2,200–2,230 range in batches, capturing low-position entries. The first target is 2,270–2,300. If the price successfully breaks through the 2,300 resistance, aim for 2,350. Follow the overall bullish trend of the market and avoid shorting against the trend.

Warm Reminder

Currently, the market is fully dominated by bullish forces, and the trend is clear. Trading should focus on low-buying and high-selling strategies, with strict risk management, stop-loss, and take-profit measures. Seize this main upward wave to maximize gains! #加密市场行情震荡 $BTC $ETH