4.16 Morning Market Analysis



Bitcoin surged to 75,391 in the morning and then fell back as expected, dropping from a high and probing below 74,400. Currently, it is oscillating around 74,659, and the bearish trend is fully confirmed; a rebound is a shorting opportunity.

Yesterday, both bulls and bears benefited, with precise predictions of a pullback from high levels. The high-level shorting strategy was perfectly realized, and the long positions were accurately timed for bottom fishing. The current market has shifted from a one-sided surge to oscillating decline. Bullish momentum has completely exhausted, profit-taking continues to pressure the market, and the technical death cross signal is clear, indicating further downside potential. The 75,000-75,500 zone is a strong resistance, and 74,000 is a short-term support.

Trading Suggestions

If the price rebounds to around 75,000-75,500, look for a short, targeting a break below 74,000 and then 73,500#Gate3月透明度报告
BTC1.04%
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