Crypto Sea Waves: April 20th Bitcoin (BTC) Tonight’s Latest Market Analysis Reference, News Interpretation

Crypto Sea Waves: April 20th Bitcoin (BTC) Market Analysis Reference:
Bitcoin surged then pulled back. In the recent period, the market continues to follow a volatile downward trend. From the daily chart, the price is still moving between the middle band and the upper band of the Bollinger Bands. The upward channel has not been broken. The short-term EMA moving averages (7/15/20) are in a bullish alignment, supporting the overall upward structure. However, in the recent period, consecutive bearish candlesticks have formed, indicating that the pace of the rally has slowed down. The MACD histogram continues to shrink, and the upward momentum of DIF and DEA has clearly weakened. At the same time, the RSI indicator has fallen back from high levels, and the KDJ indicator has formed a death cross moving downward, showing that short-term bullish strength is weakening, and there is a need for a pullback and correction. The current key support is EMA15. The Bollinger middle band is a strong support. As long as that level is held, there is still an opportunity for a rebound and upward probing in the future.
From the short-term hourly chart, on the 4-hour level BTC is in a consolidation phase after a pullback from a high level. The current price is hovering near the short-term EMA averages and is below the Bollinger middle band. The short-term moving averages are turning downward, and the MACD bearish momentum is still being released. The RSI shows a balance between bulls and bears, and at low levels the KDJ has signs of a golden cross, indicating that there may be a small rebound in the short term. For resistance, first look at the Bollinger middle band (75800). For support, it is at 73800. If the price is unable to break through the resistance level with sufficient volume, it will most likely continue to trade within a range; it may even pull back to test the lower band support. If the support level is broken, it could further extend downward. Wishing all of you coin friends to prepare your risk management in advance.
Crypto Sea Waves: April 20th Bitcoin Short-term Reference:
Longs: Go long in the 73000-74000 range, stop loss 500 points, target 74500-76000,
Shorts: Short in the 77000-76000 range, stop loss 500 points, target 75000-74000,
The article’s delivery may be delayed. These are personal views, for reference only. Do not trade blindly! I hope everyone, on your investment journey, no matter how the market changes, can stick to your own principles and stay rational and calm. #美伊冲突再起引发市场动荡 #RAVE闪崩超90% $BTC