4.12 Bitcoin (BTC) Morning Analysis

After the price surged to around 73,773, the bullish momentum clearly became overextended, then quickly retreated, and the short-term top structure is basically formed. The KD indicator has turned downward from a high level, confirming that this wave of rally has come to an end.
From a structural perspective, the price has effectively broken below the middle band of the Bollinger Bands (around 72,950), turning support into resistance, with a clear resistance at around 73,500. The Bollinger Bands are starting to contract, indicating that the market has shifted from a rally into a sideways, weaker phase, and the bulls have little short-term sustained strength.
At the same time, during the decline, volume increased, indicating that funds are starting to realize profits at high levels, chips are loosening, and the bears are beginning to take control of the rhythm. It is highly likely that the price will continue to move downward for a while.
In simple terms, this kind of movement is: the surge is a false move, and the pullback is the main theme.
Trading Suggestions
Short positions can be taken in the 73,500–73,000 range, with targets at 71,500–71,000.
Don’t be fooled by the previous rally; the core message of the current market is: if it can’t go up, it’s going down. #Gate上线Pre-IPOs #美伊停火协议谈判再生变故 #以太坊基金会已出售3750枚ETH $BTC $ETH