4.11 Midday Silk Road and Suggestions

The Bitcoin triangle has been broken, and after breaking the triangle there have been two retracements to the upper boundary of the triangle indicated by the white arrows. Currently, it depends on whether the upper boundary of the triangle can hold. If it can hold, it will reach the previous high of 74,443 before the breakout. If it cannot hold, it will fall back into the triangle for further movement. As long as it remains inside the triangle, there is no problem with consolidation. Once it breaks below the triangle, it will test the support at 71,449 and the level at 70,486. No matter how Bitcoin retraces, as long as it does not break below 70,486, the decline will not expand. Currently, the hourly highs and lows of Bitcoin are all trending higher.
Here are the suggestions:
Buy on volume breakout above 73,120, chasing longs on the right side.
If it breaks below 72,633 on volume and cannot recover, chase shorts on the right side and take the rebound, with proper stop-loss.
On the hourly chart, if it stabilizes above 73,120, look for targets at 74,267-75,397.
If it cannot hold above 73,120, it’s useless.
On the 4-hour chart, if it breaks below 72,319, look down to 71,460-70,466.
Upper resistance levels: 73,120-74,267-75,397
Lower support levels: 72,624-71,433-70,497

Silk Road Pattern
Buy on volume breakout above 2,253, chase longs on the right side, and stop-loss on the pullback.
If it breaks below 2,230 on volume, chase shorts on the right side, and set stop-loss.
Confirm support at 2,182 on a pullback to add one position,
Stop-loss if it breaks below 2,155.
On the hourly chart, if it stabilizes above 2,253, look for targets at 2,293-2,338.
Watch for a short opportunity at 2,338,
and stop-loss if it breaks above 2,360.
Left-side order insertion: buy at 2,132, stop-loss if it breaks below 2,096.
Upper resistance levels: 2,253-2,293-2,338
Lower support levels: 2,233-2,196-2,159
On the 4-hour chart, if it breaks below 2,222, look down to 2,178-2,135.
Bitcoin has been making new highs, but it can’t surpass previous highs. You might say the pattern is weak. As long as it doesn’t break below 2,233, it won’t revisit 2,193. It will keep moving upward along the lower boundary of the flag pattern. To rise, it must break the previous high.
If it breaks below 2,193, observe the price action around 2,158 for a long opportunity.
These are just personal suggestions; please follow Sister Lin’s layout for specific trading. $BTC