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Tuesday, April 21 Market Analysis at Noon.
Today's approach is very simple: Bitcoin is starting to build a swing short position around 76,000, aiming for a break below the 70,000 level, the last wave of a bearish tail correction.
On the weekly chart, the rebound has already reached the middle band of the Bollinger Bands, with continuous insufficient bullish volume on the daily chart, KDJ and RSI showing overbought conditions and turning downward, and MACD volume steadily decreasing.
On the 4-hour chart, since the rebound to the high of 78,300 and subsequent pullback, if the price falls below 73,500, the market will form a head and shoulders top, with 73,500 acting as a strong support level.
On the hourly chart, the market shows a pullback demand, and the bears are beginning to gather strength.
For those leaning left, look for opportunities to short around 76,000; for the more conservative, wait until it breaks below 73,500 before chasing the short. This swing short targets a drop below 70,000.
From a macro news perspective, the ceasefire agreement expires tomorrow, which is highly likely to trigger an early shift in sentiment!
BTC Trading Suggestion: Short around 76,000, stop loss at 77,000, take profit at 74,800–72,500.
ETH Trading Suggestion: Short around 2,330, stop loss at 2,380, take profit at 2,260–2,180.