8th Latest Range-Bound Market Analysis:

1. Current Situation: After the price surged up to around 72,743, it encountered clear sell pressure and failed to hold the high point. It is now consolidating and trading sideways around the 71,600 area. The candlestick chart in the image shows that after touching the high, the price formed a slight pullback and is testing the support of the short- to medium-term moving averages (the yellow, purple, and cyan lines in the chart).

2. Resistance: The 72,700-73,000 zone is currently the strong resistance band, including the prior high points and the sell orders posted by major traders.

3. Support: 70,000 is a psychological level and also the core support zone. As long as the price stays above 70,000, the short-term long structure will not be broken. Once it falls below, the downside will deeply test the 69,000-68,000 range.
$BTC #Gate广场四月发帖挑战