Market Recap and Strategy Review
Yesterday's trading strategy initially showed small profits during the European session. However, we held positions to monitor potential downside breakouts, aligning with our focus on European market movements. As anticipated, U.S. session support rebounds ultimately triggered our stop-loss. While this resulted in a controlled loss, the outcome reaffirms our analytical approach—prioritizing probability assessments over guaranteed wins.
Bitcoin (BTC) Contract Technical Analysis – April 24
Daily Chart Overview
- Candle Pattern: Small bearish candle following consecutive bullish candles.
- Price Position: Sustains above moving averages.
- MACD: Golden cross confirms bullish momentum.
- Key Insight: Dominant uptrend persists despite subdued volatility. Focus remains on buying dips.
Hourly Chart Tactics
Support/Resistance:
- U.S. session rally origin: $65,800
- Overnight pullback low: $66,000
Current Indicators:
- Price above MA with consecutive bullish candles.
- MACD golden cross hints at upward potential pending European session confirmation.
BTC Trading Strategy
- Entry: $66,750 (Market price)
- Stop-loss: $66,350
- Targets: $67,500–$67,700
Ethereum (ETH) Contract Technical Analysis – April 24
Daily Chart Snapshot
- Candle Pattern: Consecutive bullish candles signaling steady uptrend.
- MACD: Fast/slow line convergence with golden cross activation.
- Outlook: Gradual appreciation expected—time-dependent consolidation precedes breakout.
Hourly Chart Action Plan
Critical Levels:
- Overnight support-turned-resistance: $3,180
Present Conditions:
- Price above MA with bullish candle series.
- MACD supports continuation pending European session strength validation.
ETH Trading Strategy
- Entry: $3,255 (Market price)
- Stop-loss: $3,225
- Targets: $3,320–$3,350
Risk Management Reminders
- Position Sizing: Limit exposures to 1–2% of capital per trade.
- Stop-loss Discipline: Adjust based on volatility; avoid emotional overrides.
- Session Timing: European hours often dictate intraday momentum—plan entries accordingly.
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FAQ Section
Q: Why emphasize the European session in crypto trading?
A: European trading hours frequently establish key support/resistance levels and momentum shifts due to overlapping institutional activity.
Q: How reliable are MACD golden crosses for BTC/ETH?
A: They signal intermediate-term bullishness but require volume confirmation—best used alongside RSI and candle patterns.
Q: What’s the biggest mistake in contract trading?
A: Overtrading during low-liquidity periods (e.g., Asian session) without clear signals.