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4.15 Wednesday Noon Market Analysis
As expected, Bitcoin indeed surged to 76,000 under the pressure I mentioned, then quickly fell back. Now the price is consolidating around 74,000. The daily chart has started to decline, and the moving averages have returned to support below. The range 72,500-73,000 is an important guard level below; above, keep watching the strength or weakness of resistance at 76,000. The 4-hour structure has begun to shift downward; after a brief digestion, a pullback is still the time to set up positions. Your position size determines your attitude toward macro events.
If you already have a short position, if there is any “good news,” you must interpret that good news as a scam—it’s fake, meant to inject liquidity, in order to squeeze shorts, or to exhaust the bullish momentum. Specifically, look at the US-Iran negotiations on the 16th; reaching no agreement will trigger a further, deeper pulldown.
BTC Trading Advice: Short around 74,500-75,000, stop loss at 76,000, take profit at 73,800-71,000 1928374656574839201
ETH Trading Advice: Short around 2,350-2,380, stop loss at 2,430, take profit at 2,280-2,180$BTC
$ETH