4.13 Midday Market Analysis

The 1-hour timeframe shows a clear bearish trend, since the rebound from the high of 73,000, it has consecutively broken key moving averages and Bollinger Band support levels, with rebound strength remaining weak, and the low has dipped to around 70,400. Currently, the KDJ indicator shows only a weak correction trend, the Bollinger Bands continue to diverge downward, and bearish momentum has not shown significant weakening. Coupled with the lack of positive news support, the short-term trend remains bearish. It is recommended to maintain a high short position strategy.
From the news perspective, geopolitical risks have driven oil prices sharply higher, and US stock index futures opened lower;
The US announced a blockade of maritime traffic "in and out of Iranian ports" starting at 22:00 Beijing time on April 13;
Gold prices plummeted, oil prices hit the daily limit up, indicating a path toward a sell-off.
BTC trading suggestion: Short around 71,300, stop loss at 72,000, take profit at 70,500-68,500.
ETH trading suggestion: Short around 2,200-2,230, stop loss at 2,250, take profit at 2,150-2,080.