April 9 Bitcoin Morning Market Update

1-hour chart surged to 72876 then pulled back, breaking below the middle Bollinger Band. The bullish momentum has significantly weakened. Market news remains dull, lacking positive catalysts, with strong risk-averse sentiment and insufficient buying support. The current price weakly rebounded near the middle band but faced resistance, with Bollinger Bands narrowing and flattening. The upper band at 72046 acts as a strong resistance, while the lower band at 70989 provides weak support. Overall, the bearish trend dominates. In the absence of positive news, the rebound is likely to be weak and may continue downward. In the short term, maintain a bearish outlook, and watch for further declines if the lower band is broken.

Trading suggestion: Consider short positions around 71800, targeting 69800-70500! #BTC突破71000美元 #Gate广场四月发帖挑战 #美FDIC发布机构发行稳定币指南草案 #Base生态项目SeamlessProtocol关闭 $BTC $ETH