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Monday, 4.13, the pullback has already begun, follow the trend to short
It's a new week again, a fresh start. Bitcoin's movement over the weekend was somewhat surprising, with quite a bit of volatility. The price has been declining from 73,800 all the way down, currently in the low region around 70,500.
I mentioned this recent approach before. On Thursday, I switched to a full short position. Although I was caught early, we ultimately achieved a big victory. The bearish outlook was realized. The trend has already reversed, so just follow the trend and go short!
On the daily chart, the overall trend is mainly sideways with oscillations. Currently, the cycle still shows a box structure, with wide-range tug-of-war movements. Short-term rally did not break out of the box, so a pullback is inevitable. For now, on the smaller cycle, focus on the previous bottom area of 68,000-65,000, and a break below 63,000. If it doesn't break, consider reversing to a long position. The hourly moving averages have already shown clear turning signals, so continue to short on rebounds during the day.
On Monday morning, it is recommended to short Bitcoin at 70,800-71,500, with targets around 69,000+ and 68,000. $BTC