#BTC 4.17 Evening Bitcoin Market Outlook

Bitcoin breaks out of the triangle pattern and surpasses the previous high of 76,000, reaching a new high near 76,300, but fails to hold steady and quickly pulls back. There is a large amount of short liquidity around 76,300, and this surge higher essentially completes a liquidation. After the liquidity is swept, buying interest fails to follow through, making the pullback a natural correction.
Previously, the market also tested the upper triangle boundary for support, then rebounded and broke through the 75,367 resistance, leading to this new high. The key now is whether it can hold above 75,367:
• If it stays above 75,367, it may attempt again to test 76,333, and a breakout could target 77,235;
• If it falls below 75,367, it will retest the upper triangle boundary. If support is lost again, a likely decline to the triangle’s interior at 73,454 is expected.

Trading suggestions:
• If volume increases and it breaks below 75,267 with a rebound that fails to recover, consider short positions targeting a pullback to 74,533;
• A retest of 74,533 can be used to add light long positions on the left side;
• Those without a core position are advised not to chase longs; wait for a pullback for safer entries.
• 1-hour: Only look for a move to 77,030–78,201 if it holds above 76,044; otherwise, it’s meaningless.
• 4-hour: If it breaks below 75,037, look for a decline to 74,538–73,500.