4.12 Bitcoin Morning Analysis

After the price surged to around 73,773.4, the bullish momentum was completely exhausted, and it quickly retreated, forming a short-term top pattern. The KD indicator also turned downward from a high level, further confirming the end of the short-term upward trend. From the Bollinger Bands structure, the price has effectively broken below the middle band support at 72,958.1. The Bollinger Bands are narrowing, with the upper band at 73,558.3 forming a strong resistance. In the short term, the bulls are unable to break through this range, and the price is likely to continue trading below the middle band. Additionally, after breaking below the short-term moving averages, the moving averages shifted from support to resistance. During the decline, trading volume increased, indicating strong profit-taking willingness. The bears are accelerating their positions, further pushing the downward trend.

Trading suggestion: 73,500-74,000 range, target 71,500-72,000.