Short-term Layout of 4.10 Bitcoin:
From the daily chart, it has not fallen below the 25EMA, and the low point is gradually rising, indicating a bullish trend from a long-term perspective.
However, from the current 4-hour perspective, there is strong selling pressure, so the risk of long-term buying is also relatively high. If you must go long in the medium to long term, then you can consider buying near the upper limit of the converging triangle consolidation (near $70,000) and use the 200EMA ($66,800) as support.
But personally, I don't think it's necessary to take risks to enter the market now. Let's switch to the 1-hour chart for analysis.
Shorting near the 75 and 25EMA moving averages on the 1-hour chart (around $70,200-$70,300) still has a relatively high advantage. The target for short positions can be set at the upward support line ($69,200-$69,000). If the body of the candlestick breaks above the EMA moving average, then we will set a stop loss first.
Going long from around $68,750, the target for long positions can refer to the contact point of the upward trend line. The market has a lag, and the ideas are for reference only.
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