April 9 BTC Market Analysis

Everyone can go back and review the ideas I shared with you yesterday. The resistance level I mentioned to everyone yesterday was at 72700. Last night, after the price surged up to the resistance level we provided, it then experienced a quick pullback. And as I mentioned to everyone, if the bulls of this wave of market want to continue, the price cannot fall below 69900. So that still hasn’t happened yet.

Therefore, today’s overall thinking still focuses on whether the 69900 level can gather support. If it cannot break through, it will keep ranging around 69900. After the consolidation, we will then look to start a rebound at the 4-hour level. For that rebound, you still need to watch the resistance above at 72700 and 74600. 74600 is the trend resistance for this wave of market, so this level will not be broken so easily. In summary, the bigger direction will still see repeated ranging; on smaller timeframes, both longs and shorts will have opportunities.

Iran accuses the United States of violating the terms, the Strait of Hormuz is closed again, and the market reacts with a sell-off driven by the news. Crude oil rapidly rebounds upward. Peace will not be achieved smoothly in a single step. In the meantime, there will definitely be repeated back-and-forth tugging and negotiations. When this is reflected on the chart, it will show as sharp up-and-down swings with price moving back and forth—ultra-short-term traders need to do risk control well.

Support 69900-68400
Resistance 72700-74600

#加密市场回升