Mr. Coin in the Crypto Circle: April 11 Bitcoin (BTC) Market Analysis Reference

On the daily level, Bitcoin's recent candlestick patterns show a strong pattern of continuous bullish breakthroughs. Notably, on April 7, a hammer candlestick with a long lower shadow was formed, indicating strong buying support below. It was from this candlestick that the market began this round of rebound. Currently, the price has broken through the previous high of 73289, and the short-term bullish sentiment remains strong.

We must also maintain a level of clarity. Near the round number of 73000, the historical concentration of chips is relatively high, and there is a certain selling pressure; the market may have repeated contesting demands at this position. On the indicator front, the MACD has continuously expanded after a golden cross on the daily chart, and the DIF value of 456 has already crossed above the DEA value of -173. The short-term bullish momentum currently dominates, and the momentum is quite strong. Looking at the moving averages, the EMA7 moving average of 70823 has crossed above the EMA30 moving average of 69631, forming a standard bullish arrangement.

This further confirms the upward trend. The short-term price is somewhat deviated from the short-term moving averages, and technically, there is a need for a pullback confirmation. The risk-reward ratio for chasing high is decreasing; a more prudent strategy is to wait for a pullback around the moving averages to look for structures. However, the upper resistance gap has not opened. If there is a rebound above 73000, there is still the risk of pressure and correction; be wary of the selling pressure release and pullback risk above 73000, while monitoring the effectiveness of support around 70000-70800. Only wait for pullback confirmation to stabilize or strong horizontal consolidation to digest selling pressure can be a safer right-side entry opportunity. The market is always changing; everyone must pay attention to controlling positions and risks, and focus on the transition of support and resistance.

April 11 Bitcoin Short-Term Reference:

Range 73300-74300 for long, defend at 76500, stop loss 500 points, target below 72500

Range 70200-71200 for short, target above 71800, stop loss 500

The message may be delayed; the strategic suggestions are for reference only. The market changes rapidly; regardless of how confident you are in market judgments, always manage your take profit and stop loss, securing profits.

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