April 9th Bitcoin Market Analysis

Clear Support Zone: The price has retraced to the 2,160-2,180 range, approaching the strong support band above the MA99 (2,134.82). The 24-hour low of 2,160.00 is a key short-term defense level. After the pullback, there is sufficient rebound momentum.
During the correction phase, trading volume has significantly decreased. The current volume (34,257.862) is well below the MA5 (141,549.465) and MA10 (147,893.151) volume averages, indicating rapid release of selling pressure and gradually increasing buying support. There is no sign of panic selling with volume expansion. The correction is a healthy adjustment, building momentum for subsequent upward movement.
The 24-hour trading volume remains high at 10.87B, showing sustained capital interest and providing ample power for future gains.
Trading Recommendations:
Entry: When the price stabilizes in the 2,160-2,180 range and shows signs of volume contraction and bullish candlestick coverage, consider gradually accumulating positions.
Stop Loss: Strictly set below 2,150 (immediate stop loss if the 24-hour low is broken effectively, do not hold through the dip).
Take Profit:
First target: 2,210 (near the MA25, reduce 50% of positions upon reaching, lock in profits);
Second target: 2,260-2,270 (near previous high, close all positions and exit);
Breakout target: If volume increases and the price stabilizes above 2,273.00, continue holding with a target of 2,300+.
$ETH