April 12 Midday Analysis


Currently $BTC BTC71651.4, intraday decline of 1.60%, high-low range 73773.4-71259.0
Bollinger lower-band support: 71273.8, MA7 resistance: 71715.7, MA30 strong resistance: 72872.7
MACD bearish histogram bars are expanding significantly with ample downside momentum
Market Analysis
Due to negative news from the U.S.-Iran negotiations, the market saw a sudden waterfall-style drop. In the short term, the bullish structure has broken. Price is running weakly while sticking close to the Bollinger lower band, with no consolidation and stabilization signal yet.
Key Levels
- Strong support: 71200-71300

- Resistance levels: 71715 / 72610
Going forward, focus closely on the outcome of the April 22 U.S.-Iran negotiations, which will determine the final direction of this round’s trend. Trading suggestion: either between 70500-71200 or between 72500-73500; if it cannot break 74000, it will only fall #BTC #ETH
BTC-2,9%
ETH-3,87%
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