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Thursday, April 16th, Bitcoin's latest outlook: the bulls attempted to push higher but lacked continuation; intraday short positions are recommended.
Yesterday, the market oscillated again during the European session until the U.S. session arrived. Bitcoin dipped to the 735 support level and then gradually rose, breaking through short-term resistance in the early hours and reaching a high of 754. Currently, it is consolidating around 746. Although the short-term rally has caused some trouble for the bears, it remains within manageable limits.
On the four-hour chart, the local trend still appears relatively strong. Each rebound after an upward move shows signs of exhaustion. If the 760 barrier cannot be overcome, the bulls will be unable to fully release upward space. Therefore, even if the short-term momentum is strong, excessive chasing is not advised. Consider short positions at high levels intraday, then go long after support is established.
Refer to around 749 and 754 for staged short entries, currently around 735-725.