April 9 Morning Bitcoin Analysis $BTC $ETH

Driven by macro factors, Bitcoin launched a sharp rally from 67,711, reaching a peak at the previous high of 72,858 before topping out, then entering a deep correction cycle. The 30-minute candlestick chart shows continuous resistance, with multiple dips toward the support zone of 70,600-70,800. Currently, it has entered a high-level consolidation pattern, with short-term moving averages turning downward. The bears firmly control the short-term trend, and the market is at a critical window for direction choice.

First support: 70,500-70,000, a key defensive level for this correction.

Support strategy: If the support zone holds strongly, consider gradually buying in the 70,800-71,000 range, targeting the previous high of 72,000; if it effectively breaks below 70,000, it confirms the end of this rally, and a correction officially begins. Follow the trend and go short.

First resistance: 71,300-71,800, the upper band of the Bollinger Bands, a strong resistance zone.

Resistance strategy: If a rebound faces resistance in this zone, consider shorting with the trend, targeting the 70,000 level; if volume increases and it stabilizes above 71,300 and breaks through 71,800, it confirms the rebound momentum has returned. Follow the trend and go long, aiming for the previous high of 72,858.

In a choppy market, avoid betting on a single direction; trade within ranges, test key levels, and strictly execute stop-losses. Use small positions for high-frequency trading, accumulate small wins for big gains, avoid holding large positions or chasing rallies. Taking profits and securing gains is the key to success.