I still remember that in the article on the 29th of last month, it was mentioned that the BTC price would once again test 76,500 or hit a new low, but even so, we still need to continue to go long.

The recent market performance has perfectly confirmed my prediction.

In the early morning, the price once tested around 78,400 but quickly recovered above 80k during the day. The recent trading volume has been continuously increasing, which fully indicates that the chips below 80k are still very attractive, and the main players are willing to buy.

However, I personally believe that the bottoming process will not be completed so quickly, and there should still be another pullback to test the bottom.

From now on, let's focus on the end of April or May, as I believe a rebound will occur here.

Market analysis

Firstly, for the 4-hour level, it has perfectly recovered from my repeated statement in the article from late March that it might hit a new low again, and it accurately started rebounding above 74,000. Therefore, under the premise of not ruling out another test of 74,000, we can already start going long because even if it retraces, it should only be the last time.

Moving to the 1-hour level, my current view is that it will mainly be a range-bound market with significant fluctuations. It is impossible to accurately provide the upper and lower bounds like before. In the short term, first observe whether it can stabilize above 78,000 or break through 85,000. If it falls below 78,000, it means there will be another test around 74,000 for a second buy, followed by a rebound. A breakout above 85,000 would be seen as the start of a 4-hour rebound, at which point chasing longs could at least reach around 88,000.

Short term

It has been said above that it's already quite difficult to determine with 1 hour, so at the 15-minute level, it becomes even more challenging. We can only say that from a structural perspective, it is very likely to continue to pull back slightly later until midnight. Focus on the support around 80k and 78,000. In the short term, you can try to short with a light position, but don’t aim too high. The target is to look for 1000 points. Ensure a risk-reward ratio of 1:1 or 1:2.