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4.24 Friday Morning Bitcoin Outlook: encountering resistance above, short first during the day
In the blink of an eye, it’s already Friday again—good morning, everyone! Let’s look back at yesterday’s price action. Overall, it followed a range-bound rhythm: the high was 786 and the low was 765. Although the bulls and bears were fierce, they still kept tugging within the range. So, for yesterday, both the long and short sides had opportunities to take. Currently, Bitcoin is hovering around the 780 area.
On the four-hour chart, the Bollinger Bands are opening upward, and the overall upward channel remains unchanged. After a prior push up to 794, a certain pullback was provided for correction and repair. Currently, Bitcoin is trading between the middle and upper bands. After smaller-scale longs pushed upward, momentum is lacking for what comes next. After the MACD indicator has consolidated at high levels, a death cross is about to form. At the same time, the three KDJ lines are diverging downward, suggesting further downside extension in the short term.
Morning reference for Bitcoin: short in stages near 782 and 787. Targets: the 770–760 zone. $BTC $ETH