Mr. Coin Circle: 4.16 Bitcoin (BTC) Market Analysis Reference

The current four-hour chart has formed a clear double top structure, with two high points around 74506 and 74434. The price is currently repeatedly testing the neckline level of 73500. The latest four-hour candlestick has formed a long lower shadow, indicating that there is significant buying support in the low area around 73500. Looking at the daily level, the last three days have consistently formed a spinning top pattern with long upper and lower shadows, with both bulls and bears fiercely competing for this position. The previous high of 76038 on the daily level is strong resistance, while the previous low of 73514 is important support.

In terms of indicators, the four-hour MACD's DIF has crossed below the DEA, forming a death cross, but the daily MACD histogram still maintains a positive value of 1231, indicating that the bullish momentum of the larger cycle has not completely faded. On the moving averages, the price is still steadily above the EMA30 and EMA120, which are located at 73038 and 70775 respectively, indicating that the moving average system is still in a bullish arrangement. However, it's important to note that the EMA7 and EMA30 on the hourly level have already converged around 74078, indicating that a directional choice is imminent. Overall, the larger cycle remains strong, but the smaller cycle has not fully released adjustment pressure. The next key focus is on the gain or loss at the neckline level of 73000, which will determine the short-term rhythm. In terms of operations, it is recommended to wait for a touch at the support area of 72800-73300.

4.16 Bitcoin Short-term Reference:

Range of 74800-75800, protection at 76800, stop loss at 500 points, target below 74000

Range of 72200-71800, target above 73000, stop loss at 500

There may be delays in the issuance of chapters; the strategy suggestions are for reference only. The market changes rapidly, no matter how high your judgment of the market is, be sure to implement profit-taking and stop-loss strategies to ensure safety.

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For more daily real-time orders, you can follow the public account (Mr. Coin Talks About Coins) to get insights, participate in online technical learning, and methods for escaping losses. I have studied the market for many years, researched the major trends in the coin circle, and have studied extensively in the U.S. primarily analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other coins. I welcome fellow coin enthusiasts who do not know how to operate to research and study together.

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