4.18 Morning Bitcoin Quick Report



Just finished the rally yesterday, Bitcoin sharply dropped today, from the high of 77,477.1 all the way down, now at 76,931.4, breaking below the middle band of the Bollinger Bands, directly falling below the lower band, indicating a clear bearish trend.
Continuing to see consecutive red candles with increased volume, the bulls can’t hold up anymore. On top of that, the Fed’s interest rates are high and the US dollar is strong; profit-taking is being sold off. Going forward, it’s likely that the market will still remain weak and continue drifting downward.

On the trading side: Short positions can be taken between 77,500-78,000, with targets around 75,500-76,000.
BTC3,1%
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