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Wednesday, April 15th Market Analysis
Bitcoin indeed, as I mentioned in my live broadcast, surged to 76,000 resistance and quickly pulled back.
Yesterday's point level in the live broadcast was also perfect.
Now the coin price has fallen back to around 74,000 for consolidation.
The daily chart is beginning to decline, with moving averages returning to support below.
Below, 72,500-73,000 is an important safeguard level; above, continue to watch the strength of resistance at 76,000.
The 4-hour structure is starting to move downward, perfectly coinciding with the daily M-top we discussed yesterday,
A short-term digestion; a pullback is still a good entry point.
Your position size determines your attitude toward macro events.
If you already have a short position, any positive news must be interpreted as a scam, fake, meant to inject liquidity, to cause a sharp drop, or that the positive news has been exhausted.
Specifically, watch the US-Iran negotiations on the 16th; if negotiations fail, it could trigger a deeper decline.
BTC trading advice: Short around 74,500-75,000, stop loss at 76,000, take profit at 73,800-71,000.
ETH trading advice: Short around 2,350-2,380, stop loss at 2,430, take profit at 2,280-2,180.