4.10 Friday Morning Thoughts



After the initial unemployment benefits data was released last night, market sentiment improved somewhat. In addition, the US-Iran situation has not yet further deteriorated, so risk appetite has risen slightly. Bitcoin is currently trading in the 710–720 range, with the overall focus shifting slightly upward.

Currently, Bitcoin is in a range-bound consolidation phase. In the short term, technical indicators show a slight overbought signal, and the market needs a period of consolidation to digest profit-taking.

However, on the daily timeframe, the prior large bullish candle had a solid real body and supportive volume, and the medium-term uptrend remains firm. The logic for the move higher has not changed.

There’s no need to rush to chase highs right now. Wait patiently for a pullback to build momentum and confirm stabilization, then seize the trend-following opportunity for a second push higher.

Go long near 71300 on Bitcoin, target 72500, then 75000.#BTC
BTC0,93%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin