Thursday, 4.9

Bitcoin prices are consolidating around high levels. Overall, there hasn't been a significant trending pattern yesterday. In the evening, prices surged then pulled back, rebounded, and after overnight trading, continued to decline, with a tug-of-war between buyers and sellers, showing a range-bound oscillation. Don't deliberately chase the market now; avoid chasing gains and selling on dips. Actually, this kind of movement is quite easy to grasp. Long and short positions can enter and exit alternately.

The four-hour chart continues to stay above the middle and upper bands. After a surge yesterday, the candlestick closed with an upper shadow, then prices moved with small bullish candles, testing the support at the bottom. As long as the midline isn't broken, prices will remain in high-level consolidation. For today, the strategy is to look for short opportunities at higher levels and long opportunities at lower levels.

Above, look for resistance around 71,600-71,800, with a target of 70,300.

Below, look for support around 70,000-69,800, with a target of 71,500.