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4.17 Bitcoin Market Outlook
Last night's movement mostly aligned with expectations, with resistance above 2360 still clearly evident, failing to hold steady after a rally, and remaining weak in the short term.
From the market perspective, the 1-hour timeframe repeatedly failed to test the resistance level, and currently has returned near 2330, with the bearish trend still dominant. In a weak market, it’s not advisable to blindly catch the bottom; rebounds are more likely to present opportunities for short positions.
My approach remains unchanged: continue to follow the downward trend.
Reference: Short positions around 2360—2400
Target: 2280—2200
Brothers who understand the rhythm, just follow along. I will update if there are any changes later.