Afternoon Cryptocurrency Market Analysis on April 20th

In the afternoon, Bitcoin continued its weak oscillation trend from the morning session, affected by the renewed tension in US-Iran geopolitical relations and the decline in US stock futures. Bitcoin was under pressure and retreated. By the afternoon, Bitcoin briefly broke below the $74,000 level but failed to continue downward. The intraday decline exceeded 2.2%, and it has now returned to the $74,400 range. This morning, we suggested a bullish outlook with a slight gain of 600 points, indicating a short-term halt in the decline and a potential rebound to continue the upward trend.

On the 4-hour chart, the price stabilized above the key support at $73,500. The Bollinger Bands are narrowing and stabilizing, RSI has turned upward from the low levels, and bullish sentiment is gradually returning. The MACD bearish histogram continues to shrink, with a potential golden cross on the fast and slow lines. The downward momentum is nearly exhausted, and a short-term correction has begun. The strong support below at $73,000 provides a solid foundation. In the short term, maintain a low-buying strategy.

In the afternoon, it is recommended to buy in stages within the $73,500–$73,800 range, with a stop loss at $73,200. The first target is $76,000, and after breaking through, look for $77,500. Hold your positions firmly; dips are opportunities for low-cost entry. $BTC ‌#加密市场小幅下跌