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April 14th Bitcoin Market Analysis
Currently, Bitcoin is in a strong bullish main upward wave, with the trend entirely dominated by bulls. Although there is a short-term overbought correction demand, the overall direction remains bullish. The main strategy is to follow the trend and go long, only lightly speculating on very short-term pullbacks, absolutely avoiding heavy short positions against the trend. Starting from the April 13th low of 70,458.2, it has surged all the way to a high of 74,900, with a 24-hour increase of over 5.38%, demonstrating a typical unilateral upward trend. Bullish forces are fully in control. The moving average system: MA7 (74,399.6), MA25 (72,969.8), MA99 (72,318.9) are in a standard bullish alignment. The price is strongly attacking along MA7, with the moving averages providing strong support. This is a classic trend-up structure with no signs of breakdown.
Core logic: Trend is king, do not go against the trend, and profit from trend continuation!
Trading suggestions:
First target: previous high of 74,800-74,900
Second target: look at 75,200