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The European Central Bank cut its benchmark interest rate to 2.25% from 2.5% on Thursday, the seventh rate cut since its eight meetings, bringing borrowing costs to their lowest level since early 2023. The interest rate cut is a countermeasure to the tariff policy, but if the interest rate cut is met by high tariffs, then it will definitely drive the inflation data of the country concerned! Trump bowed his head and will not continue to raise tariffs, and said that he will reduce tariffs appropriately. This is a positive move, and it is good for the economy as well as for finance. The order of trade will also slowly return to normal, and there may be light next week. The crisis has been alleviated, but it does not mean that the big bull market can be started immediately, because today is Easter in Western countries, US stocks, European stocks are not open. The market is as light as ever, and the fundamentals are not good or negative, so there is a high probability that it will continue to fluctuate!
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Bitcoin has primarily been fluctuating within a small range yesterday, and currently, there are no key factors that could impact the trend. In the short term, it remains unchanged with fluctuations. After determining the support level, what remains is the rebound. The strategy is to seize this point to follow up. After the bulls exert their strength, a pullback leads to a rebound and enters a time correction cycle. Structurally, a new round of rebound will commence around the 84000 level. In the short cycle, it will repeatedly test the highs and pressure points. In fact, the more times a resistance point is attacked, the greater the probability of breaking through and stabilizing. The overall pattern is basically one step forward and one step back, not a strong one-sided pattern. The short-term moving average is around 84500. Overall, looking at the weekend market, it continues to consolidate sideways, and the pressure from above remains strong. Therefore, in intraday operations, the recommendation is to focus on short positions during rebounds first, and then re-enter after a pullback stops.
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Ethereum has recently been in a fluctuating upward pattern, but the pace of the rise is gradually slowing down. The price has attempted multiple times to break through key resistance levels but has failed to effectively hold above them. The candlestick chart shows successive upper shadows, indicating significant selling pressure above, and the bullish momentum is facing strong resistance at high levels. In terms of technical indicators, the MACD fast and slow lines are operating above the zero axis, but the red bars are continuously shortening, indicating that the upward momentum is waning. Meanwhile, the RSI indicator, after hovering near the overbought zone, has begun to decline, suggesting that the buying power in the short term is weakening and there is a demand for price correction. On the 4-hour level, the Bollinger Bands are gradually narrowing, with the price fluctuating near the middle band, indicating that both bulls and bears are in a stalemate. The moving average system shows an intertwined state, with short-term moving averages showing signs of turning downward, further increasing the likelihood of a price decline in the short term. Ethereum's short-term upward momentum is insufficient, and compared to Bitcoin's sideways trend, the situation for Ethereum is somewhat more severe!