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Morning Bitcoin Outlook: Geopolitical tensions are not over, bears still have the advantage!
It's quite straightforward. With the Middle East geopolitical situation repeatedly disrupting, global risk appetite remains weak. Without any significant positive catalysts, bulls simply can't get started, making it difficult to break out strongly. The overall trend is still downward.
Looking at the hourly chart, the price fell in a series of consecutive declines to the lower band, then bottomed out and rebounded. Afterwards, it oscillated around the middle band with small fluctuations, with Bollinger Bands continuously narrowing. This rebound is just a technical correction after a sharp decline, not a trend reversal. Don't be fooled. Overall, the outlook remains bearish. When the price rebounds to resistance levels, consider shorting with high confidence, keeping the same strategy.
Short around 73,000, target 64,800! #GateSquareAprilPostChallenge