April 7th Evening Analysis

The current market trend is very critical. Let me clarify the core logic for everyone 👇
After Bitcoin surged to around 70,000 and then pulled back, it is now consolidating around 68,000. The 68,000 level is the short-term support and resistance dividing line.

In simple terms, there are only two possible trends:
Holding above 68,000 supports the possibility of further upward movement, with targets around 71,800;
If it effectively breaks below 68,000, there is a high probability of retesting lower support levels around 66,000.

68,000 is also the low point from Monday. Once it is broken, market sentiment will weaken significantly.

Overall, the market has been consolidating within a range for over a week. Many traders are starting to lose patience, which is a typical characteristic of sideways markets—repeated consolidation and shakeouts.

At the same time, it’s clear that, aside from Bitcoin and Ethereum, other cryptocurrencies are generally weaker, indicating that market funds and sentiment remain cautious.

But one thing is certain: the most dangerous phase of the market has passed.
Compared to the low of 65,200 two weeks ago, the market is gradually stabilizing.

Next, focus on one key level:
Breaking below 68,000 will significantly increase the chances of retesting 65,200;
Holding above 68,000 suggests the market is likely to consolidate and move upward, with a greater chance of breaking through 71,800.

In one sentence: 68,000 is the critical threshold—holding it is bullish, breaking it is bearish.

Meanwhile, Trump also issued two core statements: victory and doomsday. The only way to interpret these two words together is that the war is far from over. The so-called regime change may only refer to the overthrow of Iran’s current leadership, but there is no clear statement about the status of Iran’s military forces, nuclear facilities, proxy networks, or other strategic assets.

This indicates that the uncertainty in the Middle East continues to ferment, and geopolitical risks have not been fully eliminated. Any sudden news could again shake the global markets, especially risk assets like cryptocurrencies, which remain highly sensitive to geopolitical shocks.