4.9 Thursday

Bitcoin's price movement is consolidating around high levels, with no significant unilateral patterns emerging in yesterday's overall trend. The price surged and then fell back in the evening, rebounded, and continued to decline after the overnight session, showing a back-and-forth tugging, presenting a range-bound fluctuation. It is advisable not to pursue the current trend too aggressively to avoid chasing highs and cutting losses; in fact, this kind of trend is still quite manageable. Both long and short positions can be entered back and forth.

On the four-hour chart, the price continues to operate within the upper middle track. After yesterday's surge, the candlestick formed an upper shadow line, followed by the price making two bearish candlesticks during a slight bullish trend, testing the bottom support. As long as the middle track is not broken, the price will continue to consolidate at high levels. For today's strategy, it is suggested to operate with high shorts and low longs.

It is recommended to look bearish around the range of 71600-71800, targeting 70300.

It is recommended to look bullish around the range of 70000-69800, targeting 71500.

Follow the public account, how to relieve worries, only Jiang Wei, a treasure analytical blogger with high emotional value, sharing free trading teaching, bringing stability and clear guidance in the restless trading market, crossing through three cycles of bull and bear markets and many years of practical trading experience, adept in naked K, trends, Dow theory, Gann, harmonics, Chen theory, wave theory, and other technical analysis, consolidating into unique personal insights.

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