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TRADING NEWSLETTER

GM Coinwirers,

What do you think about the market lately? It seems pretty quiet, right? The Bitcoin Halving is happening in just two days on April 19, and we're seeing a lot of market ups and downs not just because of Bitcoin's changes, but also due to other global economic news like the Israel-Iran conflict and statements from Federal Reserve Chairman Jerome Powell about possible delays in interest rate cuts.

Let's keep up with what's happening in the market and analyze these trends in our series!

Market Overview

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On April 15 - the first adjustment we saw from Bitcoin & the whole cryptocurrency market, Bitcoin encountered a significant decline towards the anticipated range of $64.600 - $66.000 but was unable to breach this zone due to strong selling pressure. Consequently, the market continued its downward trend, deviating from its established pattern. If this trend persists, Bitcoin's target could potentially reach $53.000 - $55.000, provided that the price remains below $67.5000 - $68.000.

During this decline, there was substantial selling volume followed by periods of weak trading volume, indicating a lack of momentum for a substantial recovery. This led to a strategic decision to initiate short positions and close all long positions before the market decline. Unfortunately, Bitcoin did not rebound around the $68.500 level as anticipated for our group's short entry strategy.

Reacting to and interpreting real-time market movements is essential for making informed investment decisions. This analysis sheds light on Bitcoin's market behavior on April 15, emphasizing critical price levels and trading dynamics during that period.

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As of today, recent posts suggest that if Bitcoin fails to surpass $68.000, it may revisit lower boundaries. The market is currently aligning closely with the previous analysis, exhibiting consistency without any discrepancies. Bitcoin is presently trading within a range of $60.000 - $68.000, with reactions observed at two key levels. The breakout at either level will likely dictate the market's direction.

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Overall, the downward pressure in the Demand zone appears more pronounced, as the Seller's Imbalance area remains "fresh" while buyers lack the corresponding momentum. This broader perspective underscores the ongoing dynamics influencing Bitcoin's market movements.

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Altcoin overview

As anticipated earlier this week, there was an expectation for a gradual decline in Altcoins. However, the sell-off in Altcoins was unexpectedly severe, with many breaking through previous upward structures, signaling continued downward trends. The surge in BTC Dominance (BTC.D) to an all-time high exacerbated the decline in Altcoins, which was unfortunate for those attempting to buy at the market bottom, despite efforts to advise against it.

The cautionary advice against bottom-picking that evening stemmed from TOTAL2 (total market capitalization excluding Bitcoin) breaking through crucial support levels overnight. Any observed rebounds were likely indicative of positions being exited before further downward pressure resumed.

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Altcoin's Total2 is currently showing a descending wave pattern on the daily chart, with resistance at 1200 billion and support in the range of 750-850 billion. Overall, the short-term trend suggests a continued downward trajectory for Altcoin's Total2.

The Bitcoin dominance index (BTC.D) has reached a 3-year high, leading to significant corrections in Altcoins. It is expected that BTC.D will continue to rise to the $58.000 - $60.000 range.

Altcoins are influenced by Bitcoin, with many showing short-term downward trends and retracing to historical support levels. This presents a potential opportunity for investors looking to enter the Altcoin market.

Some specific Altcoins are experiencing strong recoveries, including PSG - Euro token with a 55% increase and TON blockchain - L1 with a 40% increase.

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Signal Call

All the trading signals given this week were shared exclusively within our Private Trading Channel, resulting in significant profits:

• $ONDO: +170% profits from our entry 1

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• $PYTH: +100% profits from our entry 2

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• $RON: +147% profits from our entry 2

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Market Plan

Bitcoin's weekly chart displays a concerning pattern of decreasing outside bar candles, indicating potential downside pressure. To shift this, BTC needs to surpass $73.000.

On the daily chart, a triangle breakout occurred, but a failure to breach $68.000 may lead to continued downward movement. Smaller timeframes suggest a mini bullish wave, contingent on BTC staying above $62.000. To sustain upward momentum, BTC must surpass $68.000 and retest the $63.000 - $65.000 range. Failure to break above $68.000 could prompt further testing of lower support levels.