Wednesday, April 15th Midday Market Analysis

As expected, Bitcoin quickly surged into resistance around 76,000, then dropped back rapidly. Now the coin price has fallen to and is consolidating around 74,000. The daily chart is starting to decline, and the moving averages have returned below as support. Below, 72,500-73,000 is an important protection level. On the upside, continue to watch the strength of resistance at 76,000. The 4-hour structure has started to shift downward; after a brief digestion in the short term, a pullback is still a good opportunity to plan your trade. Your position size determines your stance toward macro events.
If you already have a short position, then any positive news should be interpreted as fake—a scam. It is meant to inject liquidity, to lure and trigger a more profitable squeeze to the downside; it’s “good news” that has already run its course. Specifically, look at the US-Iran negotiations on the 16th: if talks succeed or fail, it will lead to an even further deeper pullback.
BTC trading suggestion: Short around 74,500-75,000, stop loss at 76,000, take profit at 73,800-71000$BTC
ETH trading suggestion: Short around 2,350-2,380, stop loss at 2,430, take profit at 2,280-2180$ETH
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