March 25 Midday Silk Road Insights and Suggestions

What kind of market movement is this? Isn't this pure market manipulation? First, the triangle was broken, and an M-top formed inside the triangle. When the market reached this point, I believe 80% of people would think BTC would test the 67307 support level below again, then consolidate and oscillate before choosing a direction. Most people would think this way. But it stubbornly didn't follow your expected trajectory—it dropped to 68825 and stopped, even forming an isolated high point as indicated by the yellow arrow. Then it bounced back and returned above 70000. What kind of market is this if not market manipulation? Now we're back near the 71490 resistance. The question is whether it can break through the 71490 resistance in one move this time. Only by breaking 71490 can BTC continue its rally toward the 72808-73705 resistance zone. If this bounce can't get past the 71490 resistance again, it will form a three-needle probe-top pattern at the hourly level as indicated by the green arrow. A three-needle probe-top pattern means the resistance above is very strong. If a resistance level can't be broken after more than 3 attempts, it's probably impossible to break through. It's like going to a restaurant—the first time you eat there and it's not good, you still hope the second time will be better, but it's still not good. Would you go a third time? If they paid you to go, you probably wouldn't even go! If we can't break 71490 this time, we'll consolidate between 71490-70057. If this consolidation breaks down, we'll retest 68825 and the market will come back again. Just come and go like this! In the current macro environment, it's difficult to achieve one-directional movement. Whether you're going long or short, take a bite and run—you can't hold the trend. If you want to hold the trend, be prepared for profits to return to zero and get stopped out.

BTC breaks 70806 with volume, chase longs on the right. 70511 breaks lower with volume and fails to recover on rebound, chase shorts on the right. Bring good stop losses.
BTC hourly level: break and hold 70806, look up toward 71490-72808. Can't get above 70806, it's useless.
4-hour level: break below 70437, look down toward 69244-68317.
Upper resistance: 70806-71490-72808
Lower support: 70272-69056-68267
The above is just personal suggestion; specific trades should follow Sister Lin's stone board layout. $BTC