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April 17 Morning Bitcoin Outlook: BTC is under overall pressure; short-term bearish
From the latest news, “Yellow Hair” announced that the two parties involved in Lebanon and agreed to a 10-day ceasefire. The short-term risk-aversion sentiment has eased—this positive development has already been realized and played out. This is bearish for the market; there’s no strength left to push higher. Next, focus on the developments in the U.S.-Iran negotiations.
Second, based on the overall market trend, the market continues to follow a weak-range consolidation with a downward structure, consistent with yesterday’s analysis. Overall, trading remains under pressure and continues to move down. With signals fully biased bearish and the bulls lacking strength, the high-pressure range is only suitable for shorting on rallies in the short term, not for bottom-picking at lower levels.
Short around 75,400, target 72800#GatePreIPOs首发SpaceX