April 8 Midday Silk Road and Suggestions

Driven by news sentiment, a big move finally happened. It’s definitely because Trump softened his stance; otherwise, we wouldn’t see such a violent rally. Last night’s correction in Bitcoin just happened to hit the highest price of the shooting star line indicated by the red arrow on the left, which is 67,870. It found support and started to rebound. The position circled in the white box shows a piercing pattern, which means Bitcoin has a rebound demand. This is also a very good long signal, and the piercing pattern’s closing position is near the support level. If you’re not going long now, then when? Some may say I didn’t see it; fine, consider you didn’t see it. But when Bitcoin broke through the triangle, did you see that? I can also pretend you didn’t see it. The resistance level at 69,159 has been broken, and you still didn’t see it? Are you blind!

You had three chances to go long, and you missed them all. Why are you still trading small trades? Hurry up and do some arbitrage! Because you’re not suited for trading. The current Bitcoin has already hit a new high of 72,773. It’s now pulling back, but I hope everyone doesn’t think about shorting just because it’s high. As long as Bitcoin doesn’t fall below the support at 70,219 during the pullback, staying above 70k, it will continue to test the previous high. This is not just a rebound but a reversal. If it retraces and breaks below 70,219, then it will test the lower support at 69,159. Although it’s pulling back now, look at the volume circled in the white box below—shrinking volume during the pullback. As long as there’s no increased volume on the decline, nothing will happen. No matter how it retraces, it must not fall below 70,219. If it does, this rally will be temporarily over.

Bitcoin with volume breaking through 71,625, aggressive traders can chase long on the right side. If it breaks below 71,366 with volume and then rebounds without reclaiming, chase short on the right side—set a good stop loss.
Bitcoin on the hourly chart breaks and stabilizes above 71,625, aiming for 72,781-73,618. If it can’t go above 71,625, it’s useless.
On the 4-hour chart, if it breaks below 71,300, look down to 70,401-69,189.

$ETH Strategy:
Bitcoin with volume breaks through 2,234, chase long on the right side, and set a stop loss on the close.
If it breaks below 2,201 with volume, chase short on the right side—set a good stop loss.

Retest 2,159 to confirm support and add one long position,
Break below 2,120 to stop loss.
On the hourly chart, if Bitcoin stabilizes above 2,234, look up to 2,270-2,305.
Watch the 2,305 level for a short position,
Break above 2,350 to stop loss.
Left-side order: buy at 2,085, stop loss if below 2,050.
Resistance above: 2,234-2,270-2,305
Support below: 2,217-2,174-2,129

On the 4-hour chart, if it breaks below 2,207, look down to 2,159-2,102.
As long as Bitcoin can stay above 2,233, the previous high of 2,273 could be broken at any time because Bitcoin never plays by the rules.
If it retraces and doesn’t break below 2,219, which is the lowest point of the white arrow’s bullish candle below, Bitcoin won’t revisit the support at 2,174.
Breaking below 2,219 must lead to a retest of 2,174 support before choosing a direction.