4.23 Evening Bitcoin Market Outlook



Bitcoin's intraday high was 79,400, facing downward pressure, after testing the bottom at 76,800 and rebounding, currently fluctuating around 77,800.

After a sharp decline, a technical rebound stabilized, but the rebound volume is insufficient, with strong resistance above, and bullish momentum is relatively weak. The overall bearish structure remains unchanged, and the risk of a pullback after a rally is high. The strategy is mainly to short on rebounds and lightly go long on dips.

Short-term rebound is stagnating, with signs of topping appearing. The risk-reward ratio for chasing the rally is very low, and selling pressure at high levels could be released again at any time.

Trading Suggestions
Short on rebounds in the 78,100-78,600 range, with the first target at 77,200, and if broken, look towards 76,500.
BTC-0,69%
ETH-2,59%
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