A new month has started. Let’s see if April will finally shift the momentum in favor of the bulls, or if more pain is expected with Trump imposing new tariffs every week.
7 Days Heatmap
The overall crypto sentiment remains bearish, with BTC down by 4.62% and ETH by over 9.5%. This dip has hit altcoins hard, with some dropping by more than 20% or even 30%.
BTC Analysis
As mentioned in our last BTC update, the overall trend remains bearish, with price trading within the falling wedge pattern marked in orange.
If the recent low at $81,200 is broken to the downside, a new bearish impulse toward the $74,000 support zone could be triggered.
In parallel, for the overall trend to shift from bearish to bullish, a break above the upper orange trendline is required.
ETH Analysis
ETH remains overall bearish, trading within the falling channel mentioned in our last roundup article.
For the bulls to shift the momentum in their favor, a break above the $2,100 resistance level and the upper red trendline is needed.
Meanwhile, ETH is expected to remain bearish, with a potential move toward the $1,500 support level.
Quote of the week
When you genuinely accept the risks, you will be at peace with any outcome.
~Mark Douglas
Closing Remarks
In summary, the crypto market enters April under continued bearish pressure. BTC and ETH have dropped by 4.62% and 9.5% respectively, with altcoins suffering even greater losses.
BTC remains trapped within a falling wedge, with further downside likely if $81,200 breaks. ETH is also stuck in a falling channel, and could target $1,500 unless it reclaims $2,100.
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