Bitcoin breaks through $74k, but are institutions secretly fleeing?


Today BTC stands at $74,000, but there's a signal to watch out for—the Bitcoin Moving Average Index shows a fourth positive crossover, and in the previous three instances, the price dropped over 10% each time. Although the daily MACD has re-crossed to bullish, indicating short-term upward momentum, the Bollinger Bands are approaching the upper band, showing clear overbought conditions. Key levels: $71,000−$72,000 are support zones, and above $74,000, start gradually shorting!!! Be cautious of news-driven sell-offs at high levels!!
$77,000−$78,000 is a strong shorting zone; chasing longs here could trap you for half a year. News update: US-Iran negotiations began on April 11, with a very high chance of success. But reaching an agreement means the positive expectations are realized, which could lead to a "buy the rumor, sell the news" correction. The Federal Reserve's interest rate decision is at the end of this month—each of the past five meetings saw a sharp drop in crypto prices afterward. Be aware of the risks of holding positions through the end of the month. #BTC #加密货币 #Market analysis
BTC1,2%
View Original
post-image
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin