April 2 Morning Bitcoin Analysis

Bitcoin sharply dropped from the high of 69,142 in the evening, reaching a low of 67,900, completing a "rapid rise - sharp fall" shakeout pattern. It then traded sideways repeatedly in the 68,000-68,400 range, showing typical consolidation and bottoming characteristics, with both bulls and bears accumulating strength for a potential trend reversal.
In the short term, rebounds have repeatedly faced resistance around 68,400, with heavy selling pressure above and clear support near 68,000. Each dip has been quickly recovered, indicating strong support.
Resistance levels: 69,000 → 69,500 → 70,000
Support levels: 68,000 → 67,500 → 67,000
Short-term trading suggestions:
Lightly go long around 68,000, targeting 68,400, with quick entries and exits.
For rebounds between 68,400-68,500, consider lightly shorting with a target of 68,000-67,900; if broken, hold for 67,500.
Forecast: If the price stabilizes above 68,400 and breaks through 68,800, a short-term rally is expected to challenge previous highs.
If it falls below 67,883, a new downward wave will begin, with support at 67,000-66,500.
This analysis is for technical reference only and does not constitute any investment advice. Market volatility is intense; please manage risk carefully and invest rationally.
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