Bitcoin Trading Ideas for April 17

Intraday BTC Market Analysis: Looking at the 4-hour chart for BTC, it still has not broken the downward channel below, but has pulled back after a rise, and has been consolidating around 83000-86000 for 5 days.

From multiple time frames, the bulls are trying to gain strength, but the bullish momentum is weakening, forming upper wicks, which may indicate a potential upcoming significant drop, especially as US stocks are also performing weakly.

For intraday trading, pay attention to the support level on the 4-hour chart, and flexibly manage.

For medium to long-term trading, caution is advised in the near term.

Trading Plan: BTC

1- Pay attention to the support outcome around 82500--83000, buy on a stop of the downtrend, and short if it breaks down.

2- Pay attention to the resistance outcome around 85500-86000, buy on a breakthrough, and short if it faces resistance.