4.1 Wednesday Morning Latest Market Outlook

A brand new April, may everyone shed past bad luck and welcome a fresh start. Good morning, everyone!

Yesterday’s tug-of-war between bulls and bears culminated in a bullish revival in the evening. A short-term rally temporarily changed the stable trend on the short-term chart, with Bitcoin reaching a high of around 685. Although it failed to break through during the overnight test, it is currently holding above 680, indicating potential for further upward movement.

On the 4-hour chart, consecutive bullish candles show an upward trend. After breaking above the upper band, the price paused but did not reverse. The Bollinger Bands are slightly tilted upward, and the moving averages are trending higher. The technical indicators are all aligned bullishly and diverging upward, with a clear bullish pattern on smaller timeframes.

In the short term, the price is at a high level, so excessive chasing is not advised. Focus on potential pullbacks in the morning; after a correction, consider going long again.

This morning, Bitcoin is around 684-688. Consider selling in batches near these levels. Watch for a drop toward 700; if broken, look further down to 660. If it doesn’t break below, consider reversing to long positions targeting the 690-700 range.