4.7 Monday Evening Analysis of the Market!

In our midday analysis, we also suggested going long, indicating to enter around 74500, with a target of 76500-77500, which has once again been validated. For the first midday trade, we took profits at 74900-76300, netting 1300 points, and also advised those who went long to continue looking towards 77500. For the second trade, we exited directly at 76300-77300, securing another 1000 points.

From a technical structure perspective, on the four-hour chart, the rhythm is consistent with our expectations; the price has not found a bottom after the downward movement, indicating that it must repair upwards to contend in the mid-channel area. The operating channel remains in a state of wide contraction, with bearish volume being limited and showing signs of restriction. The moving averages are consolidating with a hint of a turn, and the short cycle has achieved substantive conversion; overall, it still presents a bullish retracement trend.

On the one-hour chart, the operating channel has preliminarily opened upwards, with prices gradually recovering and rising along the mid-channel, now stabilizing above. After the bearish volume was released, it quickly contracted and converted into bullish momentum, with the moving averages consistently trending upwards. Although there is some indication of short-term consolidation, the upward channel space is yet to be fully released, so we will maintain our strategy of going long at lower levels.

Bitcoin personal trading suggestion: go long around 76800, targeting 77800-78800.