April 3 Midday Bitcoin Market Analysis



As of 1:05 PM on April 3, the spot price of Bitcoin is $66,659.46, with a slight 0.36% increase over the past 24 hours. While it appears to be a minor rebound, it is actually a typical sign of a downtrend continuation.

Volume completely exhausted: The rebound has been accompanied by decreasing volume throughout, with current trading volume only one-fifth of its peak. A rebound without capital support is destined to be a "castle in the air," and a secondary decline is inevitable.

K-line pattern weakening: The rebound highs have continuously decreased from 68,138.37 and 67,430.99, showing a typical "descending flag" consolidation. After this consolidation ends, a new round of sharp decline will begin.

Trading suggestions:
1. When the price rebounds to the 66,700-67,000 range, and MACD momentum bars shrink with no volume expansion, consider building short positions in batches;

2. When the price breaks below the 66,450 key support level, add to short positions accordingly to expand the bearish position. $BTC
BTC0,64%
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