$BTC 4.12 A Brief Analysis of Bitcoin and My Subsequent Views
1. Trend Break: The 4-hour upward trend line was effectively broken by the large drop after the 73773 high, ending the short-term bullish trend and turning bearish.
2. Key Level Lost: The previous strong support near 72000 has been broken and has turned into strong resistance, making it difficult for rebounds to exceed.
3. Top Signal: The long upper shadow candlestick at the 73773 high confirms that this round of price increase has reached a temporary peak.
4. Downward Projection: The first target is near 70000, and if broken, the mid-term outlook is 69000-68000 range.
5. Trading Strategy: Short positions in the 72000-72500 range on rebounds, with a stop loss above 73500, looking bearish in line with the trend.
6. Key Note on Daily Line: If the closing price at 8 AM is below 718, it will form a Evening Star top signal.
1. Trend Break: The 4-hour upward trend line was effectively broken by the large drop after the 73773 high, ending the short-term bullish trend and turning bearish.
2. Key Level Lost: The previous strong support near 72000 has been broken and has turned into strong resistance, making it difficult for rebounds to exceed.
3. Top Signal: The long upper shadow candlestick at the 73773 high confirms that this round of price increase has reached a temporary peak.
4. Downward Projection: The first target is near 70000, and if broken, the mid-term outlook is 69000-68000 range.
5. Trading Strategy: Short positions in the 72000-72500 range on rebounds, with a stop loss above 73500, looking bearish in line with the trend.
6. Key Note on Daily Line: If the closing price at 8 AM is below 718, it will form a Evening Star top signal.