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April 8th Bitcoin Market Analysis
Current Price
71,309, up 3.91% in the past 24 hours. After reaching a high of 72,743 intraday, it quickly pulled back and is now in a high-level consolidation phase.
Strong Resistance Level: 72,743 (intraday high), this is the strongest resistance in this rebound. If it cannot break through with increased volume, it will be difficult to start a new main upward wave in the short term, and it is likely to remain in consolidation.
Short-term Support: the 71,000 integer level and the MA25 (71,059.2). This is the lifeline of the bullish trend. If it bounces off without breaking below, the upward trend can continue; if it breaks below, it is highly likely to test the MA99 (69,169.0) support.
Important‼️
Do not blindly chase longs above 72,700. The risk-reward ratio at this point is very poor, and you are very likely to get caught at the top. $BTC