BTC Intraday Strategy

Recently, it surged high, then closed with a large bearish candle and pulled back, followed by narrow sideways consolidation, which is a typical weak recovery pattern after a decline, with strong selling pressure above.

Rebound with low volume, decline with high volume, obvious divergence between volume and price, insufficient bullish momentum, continuous release of bearish selling pressure, overall clearly bearish pattern.
High-level short: During the rebound to the 71,300-71,550 range, gradually establish short positions, stop loss above 71,800, target 70,700-70,550, if it breaks below 70,400, hold for 70,000. If it breaks above 71,500 and stabilizes, watch for shorting opportunities at 72,300-72,700.
Low-level long: Only consider light long positions on pullbacks to the 70,600-70,450 range, with clear signs of stopping the decline (such as volume-increasing bullish candles, bottom divergence), with stop loss below 70,500, target 71,000-71,050, quick in and out.

Focus on the overall market correlation and sudden news events intraday. Breakouts without volume are considered false breakouts. Strictly avoid blindly chasing gains or cutting losses. #Gate广场四月发帖挑战 #btc