🍍4.5 Midday Bitcoin Market Outlook

The “big cake” is still consolidating and ranging within the channel. Last night’s spike higher looks more like a hunt for liquidity to lure longs.
Although that bullish candle that pushed higher refreshed the high, the closing price failed to hold above the 67,319 resistance level, and it closed with a shooting star pattern. Even though there was volume support below, the price still couldn’t stay put—it only poked into the dense short-seller zone around 67,500, tested briefly, and then quickly pulled back, clearly a false breakout.
Multiple subsequent upward tests also failed to break through the key resistance, and the rebound strength is clearly insufficient. The current price has retraced to the lower boundary of the channel for support and rebounded; as long as it can’t break above 67,319 and the upper edge of the channel, it will most likely continue to range.
If it breaks down through the channel support, it will further dip to 65,665. If that level is lost, it will also set new lows again. For it to truly turn strong, it must effectively break above 67,319 and overcome the channel’s resistance.

Trading suggestions:
• Break out above 67,382 with volume and hold, then you can chase longs to follow the rebound; target 68,299-69,185
• Break down below 66,871 with volume, and if the pullback cannot regain it, you can chase shorts
• If the 4-hour level breaks below 66,734, then look for 65,657-64,936
$BTC
#Gate广场四月发帖挑战