4.20 BitTiger Diary

Is a bear market continuation pattern forming? Ready for a reversal? A new week has begun. $BTC's weekly candle closed with a long upper shadow. Since Friday, when we saw the largest short liquidation volume since 10/11, Bitcoin took advantage of the low weekend liquidity to plunge all the way down to 74k, completely erasing Friday's gains from the Iran Strait reopening news. Now, we wait for a secondary confirmation after tonight's U.S. stock market opens. On the technical analysis side, just looking at the daily structure and the massive liquidation volume at the key upper edge, the probability of a continuation pattern heading downward is growing. Right now, it's probably around 30-40%. Those who know a bit about technical analysis should be aware of the theoretical target once a continuation pattern is confirmed. Just wait for the structural breakdown. Weekly support is at 70,500, and resistance is at 78,000. Now, let's talk about sentiment. Last week, you probably noticed the mini "carnival" of random meme coins and shitcoins, right? But since it's a bear market and fewer people are making money, it hasn't reached the frenzy level yet. Think back to the last bull run or the one before that—remember all those animal coins, rug-pull meme coins, and the FOMO? People were seriously pulling all-nighters, glued to project tweets, feeling like they'd miss out on millions if they slept . During bear market liquidity spikes, be extra cautious with your position allocation. Most likely, this is when the whales are offloading, creating a fake sense of prosperity to make retail traders their exit liquidity. Cherish every rebound in the bear market. Take care and stay cautious ✊✊ 74,500