April 12 Morning Analysis

Bollinger Bands BOLL$BTC 20,2(: Upper band 73699.3, middle band 73391.0, lower band 73082.7
Moving average system: Short-term MA7=73286.9, medium-to-long-term MA30=73265.1
Wave extremities: Stage high point 73773.4, stage low point 72451.9
Price strongly surged from the low of 72451.9, rising to the high of 73773.4 and facing resistance and pulling back, entering a high-level correction phase.
The short-term 7-day moving average is turning downward, and the price has broken below the short-term moving average, indicating rapid decay of bullish short-term momentum; the price is operating along the 30-day moving average, and the medium-term trend has not yet fully deteriorated.
Previously, the price surged above the upper Bollinger Band and then quickly fell back; currently, it has dropped below the middle Bollinger Band, approaching the support zone of the lower band; the Bollinger channel is narrowing, and market volatility is decreasing, cooling the bullish frenzy.
Continuous decline with consecutive bearish candles at high levels, while long lower shadow candles at low levels show buying support, and short-term downward momentum is slowing; the lower Bollinger Band forms the core defensive position for this correction.
Operation suggestion: Near 71800-72500 target 73200-74000, and if it breaks 74000, watch for 75000.
News: The latest situation in Islamabad has become clear:
Iran firmly sets two bottom lines for negotiations—Lebanon’s priority ceasefire and full unfreezing of overseas frozen assets, without one, no negotiations;
The US side also demands strict conditions, requiring Iran to abandon nuclear ambitions and open the Strait of Hormuz, among other core demands.