April 3rd Bitcoin Market Analysis.

Resistance Levels (Shorting Reference Points)

First Resistance Level: $67,400 - $67,500 range

Reason: The blue MA20 (20-period moving average) line in the chart shows a value of 67,458.9. Moving averages often act as support or resistance; currently, the average is sloping downward, serving as a strong dynamic resistance.

Reason: The short-term MA10 is also near 67,434.8.

Trading Idea: If the price rebounds to this range (67,400-67,500) and forms a shooting star (unable to push higher) or closes bearish, this is a relatively safe shorting position for short-term trading.

Second Resistance Level: $68,600 - $69,000 range

Reason: This is the recent high point area before the decline (the high on the left side of the chart), also near the 24-hour high price of 68,653.7.

Trading Idea: If the market strongly breaks through the first resistance level, shorting at this position is a contrarian top-tailing attempt, which carries higher risk. However, if a clear "double top" pattern appears, it is a better medium-term shorting point.

Support Levels (Stop-loss/Take-profit Reference)

First Support Level: Around $65,700

Reason: Near the 24-hour low of 65,701.7, and the recent bottom during the last dip.

Trading Idea: If you are shorting and the price breaks below this level, it indicates the bearish trend continues, and you may consider adding positions or taking profits.

Strong Support Level: $65,000

Reason: The chart explicitly marks this as the recent low point (around March 29).

Trading Idea: If the price falls below $65,000, it means the lower boundary of the consolidation range has been broken, potentially opening the door to a larger decline.

Overall Trading Suggestions (For Reference Only)

Current price: 66,876.9

Aggressive Short Strategy:
Entry Point: Watch for a rebound near 67,600 - 68,400.
Stop-loss: Set above 68,600 (to prevent false breakouts).
Target: Aim for around 66,000.

Conservative Short Strategy:
Wait for the price to test the 68,000 level again. If it can reach there but with insufficient volume, it is a safer shorting position.