$BTC Bitcoin Evening Silk Road and Suggestions

When it breaks below this consolidation zone within the white box, it will return to the lower red box consolidation area to continue oscillating. In other words, to have a pullback, it must break below 72281 in the white box to initiate a correction. The correction will only be a return within the consolidation range marked by the lower red box, then continue sideways. To go higher, it must break through 73288 in the white box to look toward 74488 and higher. If you are eager to short, I suggest waiting for Bitcoin to rebound upward again. It’s better if the rebound does not exceed the previous high of 73452, forming a top pattern. Shorting at this point would be more stable, creating a double top pattern. A single top makes it a bit difficult to fall. Once it rebounds and breaks above the previous high, you should abandon the short idea and patiently wait for a dip to go long.

Bitcoin with volume breaks above 72952 and then follows up to buy long; a volume breakdown below 72566 and a rebound that cannot recover indicates a follow-up short, so set a good stop loss.
On the hourly chart, if Bitcoin breaks and stabilizes above 72952, look toward 74505-75303; if it cannot go above 72952, it’s useless.

On the 4-hour chart, if it breaks below 72593, look down to 71407-70450. The 4-hour chart shows a bearish shark pattern, with the D point near 76000. If it truly forms a shark pattern up to 76000, can you hold your short position now? Moreover, the yellow bullish trendline indicated by the white arrow below has not been broken, and the MACD on the 4-hour chart shows no divergence, indicating that this upward move on the 4-hour chart is not finished, and there’s no condition to short. To short at best, wait for a high point—where the shark pattern’s D point is—or wait for it to break below the yellow bullish trendline, then rebound without recovering the trendline, which would be a better short entry. But if it breaks below the trendline and cannot recover, the short target would only be the middle of the box at 70541; breaking below the box’s midpoint allows shorts to be more effective.

The above is just personal advice; please follow Sister Lin’s layout for BTC.