April 5th midday Silk Road and Suggestions

Bitcoin is still moving within the price channel with fluctuations. Last night, it suddenly surged upward. I wonder if any traders chased the long position? This could very well be a trap to lure more buyers. Why do I say that? Look at the red arrow in the chart pointing to this candlestick. Although it showed an increase and broke previous highs, forming a new high, the closing price of this candlestick did not close above the resistance at 67,319. Instead, it closed as a shooting star. Looking at the volume associated with this candlestick indicated by the red arrow, although there was volume, the price did not stabilize above the 67,319 resistance. It just poked up briefly, hitting a high point, then quickly fell back. Why did it fall back after hitting a high? Because yesterday’s liquidation map showed a large amount of short liquidity around 67,500, which caused this false breakout and subsequent fall. It’s understandable that the first attempt to break through 67,319 failed. The repeated failures to break above the white arrows suggest a rebound attempt. So I say this is a trap to lure more buyers. Currently, Bitcoin is bouncing off the lower boundary of the price channel after a retest, but if it cannot break through 67,319 and the price channel, it will remain in consolidation within the channel. If it breaks below the channel, it will definitely retest the support at 65,665. If 65,665 cannot hold, we may see Bitcoin form new lows. To rise, it must break through 67,319 and the price channel; otherwise, it’s pointless.

Bitcoin with volume broke through 67,382 and is now chasing the rebound on the right side. If it drops below 66,871 with volume, it’s a false breakout and should be shorted with stop-loss in place.
Bitcoin on the hourly chart broke above and stabilized at 67,382, aiming for 68,299-69,185. If it cannot go above 67,382, it’s useless.
On the 4-hour chart, if it breaks below 66,734, look for support at 65,657-64,936.
Resistance above: 67,382-68,299-69,185
Support below: 66,785-65,616-64,930

$ETH Silk Road
Second Bitcoin with volume broke through 2,072; chase longs on the right side, with stop-loss in place.
Break below 2,044 with volume, chase shorts on the right side, and close the position if it recovers.

Retest 2,012 to confirm support, add one long position.
If it breaks below 1,976, stop-loss.
Second Bitcoin on the hourly chart stabilizes at 2,072, aiming for 2,125-2,156.
Watch for a short at 2,107 above, with a stop-loss at 2,143.
Left-side order: buy at 1,952, stop-loss if it drops below 1,923.
Resistance above: 2,072-2,125-2,156
Support below: 2,040-2,012-1,962

On the 4-hour chart, if it breaks below 2,040, look for support at 2,009-1,960.
Second Bitcoin attempted twice to challenge resistance at 2,083 but failed, forming a double pin top pattern. Only a breakout above 2,083 can bring it back into the 2,125-2,166 resistance zone. Without breaking 2,083, it’s likely to retest 2,016.
These are just personal suggestions; please follow Sister Lin’s layout for precise trading. $BTC
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