$BTC

4.14 Bitcoin Analysis

Recently, Bitcoin has rebounded quite well, but it has not successfully broken through the two levels of resistance above to form a major trend reversal. Currently, there is fierce long-short competition around 85500, and the outlook remains bullish.

The key points for whether the market will turn bullish later are around 85700 and 88000. We are still waiting to see if 85700 can be successfully broken; if it breaks, we can continue to look towards 88k.

The only support level below is at 83000. As long as it does not break below the upper side of the four-hour channel, there is still a chance to continue to long and play for the continuation of the bullish trend.

On the short side, the current market will not directly surge up. We continue to wait for the resistance situation around 85700-86000 and 88k, and wait to open shorts on the right side.

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