4.19 Weekend Morning Market Overview: BTC retracement is imminent— or bouncing off the trendline?



BTC closed with a solid bearish candle this morning, indicating further risk of a pullback

4H BTC is in a converging, symmetrical triangle channel; Vegas channel EMA576-676, support is near the lower band at 7.49, and upper band resistance is near 7.64

1H BTC Vegas EMA144-169 lower band support resonates with the trendline; if it retraces to the trendline, there is a chance to form a rebound

Judging from political factors; with the US and Iran restarting negotiations, Iran taking a hardline stance in the Strait of Hormuz firing on passing vessels, plus Trump's talk— another US-Iran-Israel gas-war flare-up is quite possible, which could further increase the likelihood of the market pulling back again

The market is ranging around 7.56; go long above the rebound trendline support at 7.56, add to positions at the trendline 7.46, keep a defense level at 7.37, and target around 7.71 and 7.79

With 7.37 repeatedly testing and holding as effective support, you can set up a long from the left side; defense at 7.25, and target around 7.49 and 7.69
#周末交易计划 $BTC
BTC-2.34%
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