April 12 Midday Silk Road and Suggestions

Bitcoin has been making higher highs these days, but each time a higher high appears, it doesn't continue to rise; instead, a new high is reached and then quickly falls back. This time is no exception. After breaking through 73,288, it surged upward to a new high of 73,799. The position circled in the white box shows a Evening Star pattern, which immediately led to a pullback, dropping back into the flag pattern. Currently, Bitcoin is supported by the lower boundary of the flag at 71,445 and has not continued to decline. Next, we will see if the rebound can recover and stay above 72,281. If it can stay above 72,281, there is a chance for further upward movement. If it cannot break above 72,281, this retracement isn't complete, and it will continue to test the support at 70,429 below. Everyone should pay attention to whether the support at 70,429 shows signs of bottoming or stopping the decline. If bottoming or stopping signals appear, this is a good position to add long positions on the left side. Currently, I think Bitcoin hasn't finished falling because there are no signs of a reversal from a downward pin or a quick recovery. At this position, both short and long trades are not ideal. If you chase a short, the support at 70,429 doesn't have a good risk-reward ratio. Only if it breaks below 70,429 could the decline accelerate. If you want to go long now, there are no signs of a stop in the decline or a breakout. It's better to wait for a further pullback with signs of stabilization before going long. Therefore, I suggest everyone, especially over the weekend, mainly observe. During the day, it is likely to fluctuate within the range of 71,445 to 72,281.

Bitcoin with volume breakout above 71,938, chase longs on the right side, and take profits on rebounds.
Break below 71,283 with volume, then attempt a rebound but fail to recover, chase shorts on the right side, and set a good stop-loss.
On the hourly chart, breaking above 71,938 targets 73,120-74,274; if it can't reach 71,938, it’s useless.
On the 4-hour chart, breaking below 70,445 targets 69,309-68,083.
Upper resistance levels: 71,938-73,120-74,274
Lower support levels: 71,429-70,480-69,185

Yitai Silk Road
With volume breakout above 2,235, chase longs on the right side, and set a stop-loss after recovery.
Break below 2,206 with volume, then attempt a rebound but fail to recover, chase shorts on the right side, and set a good stop-loss.

Retrace to 2,158 to confirm support is effective, add one long position,
Break below 2,127 with stop-loss.
On the hourly chart, stabilizing above 2,235 targets 2,275-2,329.
Watch for 2,275 to add a short position,
Break above 2,316 with stop-loss.
Left-side order: buy at 2,087, stop-loss below 2,053.
Upper resistance levels: 2,235-2,275-2,329
Lower support levels: 2,206-2,157-2,113

On the 4-hour chart, breaking below 2,203 targets 2,157-2,112.
Finally broke through the previous high of 2,272, expecting a significant upward surge this time, but it fell back before heating up and broke below the support at 2,233. Currently, 2,233 is a resistance level. If it can break above 2,233, it will challenge 2,272 and the previous high. Operating below 2,233 will likely continue downward to test 2,195 and the lower boundary of the box at 2,173. If the box breaks below 2,158, it’s a signal to go short. As long as it doesn't fall below 2,158, there’s nothing to worry about. Falling below 2,158 on the hourly chart would mean the bullish trend is basically over. Sister Lin personally believes that the downward momentum is strong; pay close attention to the effective breakout and breakdown levels.