4.17 Morning Market Outlook



Bitcoin plummeted over 1,700 points after the US stock market opened last night, dropping to around 73,200. This was followed by a rebound and rally to about 75,500 early this morning, then a pullback. Currently, it is consolidating around 74,900, in a relatively high position with clear resistance above. The Silk Road still rebounds to make a correction.

The highest points yesterday and today were above 75,000. This level's resistance is clear. From the 30-minute chart, after multiple touches and resistance at the top, it pulled back, confirming strong double-top resistance.

Trading Suggestions

Rebound in the 75,000-75,500 range for short-term high positions, targeting a drop to 74,300. If broken, look for a further decline to 73,500-73,000. After breaking below, continue to watch for a decline to 72,300.
BTC-0,42%
ETH-1,21%
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