April 7th midday Silk Road and suggestions

Bitcoin has failed twice to break above the 70292 resistance. The last breakout created a higher high and formed a double top pattern, followed by a pullback. It also broke below the neckline at 68811. When it broke below the neckline at 68811, the bullish consolidation zone marked by the white box was already broken because a new low appeared within that zone. After breaking the white box consolidation zone, there was a rebound indicated by the red arrow, but it failed to recover back into the white box. Instead, it formed an isolated high at 69129, which is now the resistance level for Bitcoin. To move higher, it must break through 69129 to have a chance to challenge the 70292 resistance. Watch whether the second rebound can recover above 69129. If it cannot and falls below the recent low of 68265, the decline will accelerate, and it will retest the support at 67861. If the support at 67861 holds, the price will consolidate between 67861 and 69129. If 67861 is broken, then pay attention to the support at 66469. If 66469 cannot hold, the decline will continue, and the price will follow the downward trend.

Bitcoin with volume breakout above 69129, look for long entries on rebounds.
If it breaks below 68313 with volume and cannot recover, look for short entries, set stop-loss properly.
On the hourly chart, if Bitcoin stabilizes above 69129, it targets 69980-70555.
If it cannot rise above 69129, it cannot go higher.
On the 4-hour chart, if it breaks below 68223, it targets 67307-66563.
Upper resistance levels: 69129-69980-68223
Lower support levels: 68224-67331-66528

$ETH Silk Road

Bitcoin with volume breakout above 2121, look for long entries on rebounds, and close stops.
If it breaks below 2085 with volume, look for short entries, set stop-loss properly.

Re-test 2043 to confirm support is valid, add one position.
Break below 2015, stop-loss.
On the hourly chart, if Bitcoin stabilizes above 2121, it targets 2155-2198.
Watch for a short entry at 2198 if it reaches there, with a stop-loss at 2233.
Left-side order: buy at 1976, stop-loss below 1936.
Upper resistance: 2121-2155-2198
Lower support: 2085-2040-2015

On the 4-hour chart, if it breaks below 2085, look for support at 2040-2010.
The acceleration line indicated by the red arrow has been broken.
If the rebound cannot recover above 2119, the price will continue downward.
Pay attention to support zones at 2086-2073.
If support at 2086-2073 is broken, the downtrend has just begun.
There is still a chance to recover above 2119 and test 2151.
Breaking below the red arrow trendline at 2020 will confirm the downtrend.
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