April 9 Bitcoin Market Analysis

Latest Position
70,790, 24-hour decline of 1.03%, intraday high of 72,858, low of 70,428. Market liquidity is sufficient, and in the short term, it is in a weak oscillation correction after a decline, with an overall clear bearish trend.

Moving Average Analysis
MA7 current value is 70,847. The price of 70,790 has broken below this moving average, indicating a complete weakening of the super-short-term trend. The moving average is turning downward, becoming the first resistance level for a rebound.

Major Trend
At the 15-minute level, the trend is clearly downward, starting from the high of 72,858.5 and continuously declining, with lower highs and lower lows, forming a textbook bearish trend structure.

Core Logic
Starting from the intraday high of 72,858, each rebound high is lower than the previous high, and each decline low is lower than the previous low, from 72,858 → around 71,500 → 70,428. This is a textbook bearish trend structure.

Conclusion: The trend is your friend; going against it is your enemy. In a clear downtrend, shorting is in line with the market, while longing is a contrarian play. The win rate is inherently vastly different.

Trading Suggestions
Rebound to 70,800-70,900, then go south
First target: 70,400
Second target: 69,950