After testing major support zones across almost all altcoins, the market is finally pumping again, and optimism is on the rise. Is this just a short-lived correction, or is the market gearing up for a bigger impulse to the upside? Let’s explore the possible scenarios together.
7 Days Heatmap
The crypto heatmap is finally all green again! We’ve all missed this sight and hope it lasts longer, as March and April are typically bullish months. BTC and ETH are both up by 1.5% each, while altcoins have recorded larger gains, starting from 5% and above.
BTC Analysis
After rejecting the $91,000 structure mentioned in our previous market outlook, BTC has been bullish in the short term.
For this bullish movement to transition into a long-term trend, a break above the $100,000 mark is necessary.
In this scenario, BTC could retest its all-time high of $109,000 or even set new records, a milestone we’ve all been eagerly waiting to celebrate.
ETH Analysis
As expected in our last two market outlooks, ETH rejected 50% of the wick caused by Trump’s tariffs on Canada, Mexico, and China.
For the bulls to maintain momentum, a break above the $2,800 structure marked in orange is necessary.
In this case, a retest of the upper red trendline and the $3,000–$3,100 resistance zone would be highly likely.
Quote of the week
Novice Traders trade 5 to 10 times too big…
~ Bruce Kovner
Closing Remarks
In summary, the heatmap has turned green, with BTC and ETH up by 1.5% each, while altcoins have posted gains of 5% or more.
BTC rejected the $91,000 level and is bullish in the short term. However, for a long-term trend shift, a break above $100,000 is crucial, potentially leading to a retest of its all-time high at $109,000 or even new record highs.
ETH followed expectations by rejecting 50% of the wick caused by geopolitical factors. To sustain bullish momentum, it needs to break above the $2,800 resistance. If successful, a retest of the upper red trendline and the $3,000–$3,100 zone is likely.
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