April 13 Midday Silk Road and Suggestions

Bitcoin first retested the support at 70429 after breaking down from the bearish flag pattern.
Supported, it started to rebound as indicated by the white arrow, but the rebound did not bring it back inside the flag pattern.
Instead, it formed a evening star pattern near the lower boundary of the flag, circled by the red box.
Then, it retested the support at 70429 a second time, rebounded again but still failed to break through the resistance at 71445.
Now, it depends on whether the retest of the 70429 support can hold.
If it holds, there will be a rebound, but to continue upward, it must break above 71445 and move higher toward 72281-73288.
Below, at the position indicated by the white arrow, there is a small double bottom pattern, which depends on whether Bitcoin can break through the resistance at 71445.
Only if it breaks through 71445 can the double bottom form.
If it fails to break through and falls back below 70429, it will test the support at 69263.
Only a break above 71445 and re-entry into the flag pattern will stop the current downward trend; otherwise, it will oscillate between 71445 and 70429.
Once it breaks below 70429, the hourly bullish trend from 73799 to 70429 will be invalidated, leading to a deeper retracement.

Bitcoin, with volume, breaks through 71336 and continues to chase the rebound.
Breaking below 70659 with volume and failing to recover indicates a short position, with stop-loss in place.
On the hourly chart, breaking above 71336 and holding suggests a target of 72592-73559.
If it cannot go above 71336, it’s useless.
On the 4-hour chart, breaking below 70482 points to a target of 69279-68249.
Resistance above: 71336-72592-73559
Support below: 70480-69259-68113

$ETH Strategy:
Bitcoin with volume breaks through 2205 and continues to chase long positions; stop-loss on the retest.
Breaking below 2175 with volume and chasing short positions, with stop-loss in place.

Retest 2121 to confirm support and add one long position,
Break below 2086 to stop-loss.
On the hourly chart, Bitcoin stabilizes above 2205 and targets 2236-2275.
Watch for a short position at 2288 if it reaches there,
and stop-loss at 2329.
Left-side order: buy at 2058, stop-loss if below 2025.
Resistance above: 2205-2236-2275
Support below: 2175-2120-2085

On the 4-hour chart, breaking below 2173 points downward to 2124-2085.
The middle axis of Bitcoin’s box pattern has been broken, and this yellow bullish trend line has just been broken.
Next, observe whether Bitcoin can rebound and recover above the trend line and the box pattern’s middle axis at 2216.
If it can, nothing is wrong; if it cannot, it will definitely retest 2157.
$BTC $ETH