Today’s Bitcoin Evening Outlook (Wednesday)

1. Core Bearish Logic
1. Positive news exhausted, price spikes then pulls back
Stimulated by US-Iran ceasefire news, it briefly surged to $72,700 before quickly retreating, with a bearish daily close.
Conclusion: Positive momentum has run out, $72k—$73k becomes a strong resistance zone, and bullish momentum is weakening.
2. Mid-term trend: Downward channel not broken
Price remains within the mid-term downward channel; rebound is an oversold correction, not a trend reversal.
Key resistance: MA90 (around $74k) + upper boundary of the channel, very difficult to break through.
3. Volume divergence (strong bearish signal)
• Increasing volume during rebounds, decreasing volume during declines
• No sustained large capital inflow, only short-term news-driven trading
Conclusion: Buying power is weak, prone to falling rather than rising.
4. 4-hour timeframe: Multiple indicators turning bearish
• Moving averages: MA5 crosses below MA10, forming a death cross
• KDJ/RSI: Bearish crossover at high levels, overbought correction
• MACD: Turning at high levels, bullish momentum diminishing
2. Key Price Levels (Evening)
• First resistance: $72k—$72,500 (intraday high, strong selling pressure zone)
• Second resistance: $73k (psychological level)
• First support: $70,500—$70,000 (short-term support)
• Second support (bearish breakout target): $69,000—$68,500
3. Evening Bearish Trading Strategy
• Entry: $71,800—$72,200 shorting zone
• Stop-loss: above $73,000
• Targets:
◦ First target: $70,000
◦ Second target: $69,000—$68,500 (if broken, expect continuation)
4. Risk Warning
• Short-term volatility driven by news and liquidation, strictly use stop-loss. #Gate广场四月发帖挑战 #加密市场回升 $BTC $ETH
• If volume stabilizes above $73,000, the bearish outlook will be temporarily invalidated