The latest 5-day line has closed. Let’s see how the market is trending.

Judging from the K-line trend: BTC 5-day line is currently in a volatile market, with longs in equilibrium. The probability of continued volatility is relatively high based on the following points:

1. After a full rise, the price reached a record high of $73,666. On March 13, it closed with a negative line, which combined with the previous positive line formed a bearish signal "dark cloud cover".

2. On March 18, the market fell to $60,870, but then a positive line appeared, forming a bullish pattern: rising engulfing, the market stopped falling and reversed

3. The current market trend is between the high point and the low point of the callback, which is a volatile trend.

4. Yesterday, a hanging line was closed, indicating that the market is between 65,000-70,000 US dollars. There is a fierce competition between long and short positions, and the winner has not yet been determined.

5. The overall trend of BTC is a bull market, with highs and lows gradually rising

The above 5 points are the signals given by the market. After comprehensive analysis, it can be seen that there is pressure from above and strong support from below.

The offensive and defensive battles are still going on, but if we look at it from a longer-term perspective, it is clear that the bulls are much stronger throughout April.

If this kind of volatile market continues for a long time, it will be very beneficial for the bulls, because there is a popular saying in the market: If you can't beat them, join them.

The market has been trying to drive down the price of BTC to get retail investors on board, but it has not been able to do so. This also shows the market's determination. The general trend is mainly upward.

The trend is the most direct feedback, coupled with the support of various favorable factors

Distance: BTC will halve in April, which is a major positive, but the market is worried about a big drop

My personal opinion is the same as it was on March 12 this year. I thought there might be a big drop on March 12, 2024, but in the end it broke the previous high.

The scenario for April is basically the same as that of March: first rise and then fluctuate.

2024 is still the same as before: The fourth wave of the cryptocurrency bull market has begun. Look at the long term and don’t always focus on the current account’s profit and loss, otherwise it will only be a dream.

In 2024, everything will be full of life, and everything will be in bloom in a flash. Welcome to the big bull market feast

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