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April 14th midday Silk Road and suggestions
Recognizing the trend is very important. If you want to short, the bullish trend may have just begun.
There are only two outcomes for shorting: first, being stopped out; second, liquidation.
If you can accept it, you can short; if not, it's better to follow the trend.
Why did Bitcoin rise so sharply? Because the market is full of bears, and they haven't been completely defeated,
allowing the bears to turn into bulls. How can Bitcoin change direction?
If Bitcoin cannot stay above 74,300, it will test the support at 73,288 below.
If it can hold, it will fluctuate between 74,300 and 73,288; if not, it will continue downward to retest 72,281 and the upper boundary of the flag pattern—both are normal.
As long as it doesn't fall back inside the flag pattern, it's a normal retest.
Bitcoin with volume breaking through 74,445, aggressive traders chase long on the right side,
retreating with volume below 74,084 and failing to recover, chasing short on the right side, taking the pullback.
Bitcoin on the hourly chart breaks through and stabilizes above 74,445, aiming for 75,687-76,760,
continue upward if it breaks 74,445.
On the 4-hour chart, if it falls below 73,898, look down to 72,898-71,445.
Upper resistance levels: 74,445-75,687-76,760
Lower support levels: 73,954-73,090-72,565
Silk Road
Volume breakout above 2,369, chase long on the right side, stop loss on the pullback.
Below 2,352 with volume, break and chase short, set good stop loss.
Retest 2,308 to confirm support is effective, add one lot,
break below 2,271, stop loss.
On the hourly chart, stabilize above 2,369, look up to 2,416-2,460.
Watch for 2,460 to add a short position,
break above 2,495, stop loss.
Left-side order insertion: buy at 2,232, stop loss if below 2,198.
Upper resistance: 2,369-2,416-2,460
Lower support: 2,329-2,272-2,250
Trading suggestions still focus on the early morning dip,
Bitcoin around 73,000, target near 74,800.
Altcoins around 2,320, target near 2,380.