CoinWin's Evening Trading Strategy for April 16th
Bitcoin saw a technical pullback from the 75,000 level, dipping to 74,300 before testing the 74,000 support. The decline occurred on lower volume, suggesting a healthy correction within the broader uptrend rather than a reversal.
Technical Analysis: - Price holds above the 60-day moving average, with strong support at 74,000. - Hourly RSI nears oversold levels, signaling potential for a rebound. - MACD shows weak bearish momentum, reducing downside risk.
Trading Recommendations: 1. Buy the dip in the 74,000-74,200 range, targeting 74,800 and 75,400. 2. If 74,000 breaks, stay cautious and wait for confirmation. 3. Expect a likely rebound in the evening session as bullish structure remains intact.
Stay disciplined—this correction presents a strategic entry point for continued upside. $BTC
