4.13 Morning Silk Road and Recommendations

Looking at the four-hour chart of Bitcoin, after the price rapidly dropped below the midline with a large bearish candle, the price moved into a pattern of alternating small bullish and bearish candles, consolidating sideways at a low level for correction. Currently, the retracement trend has not fully ended, and the bears still dominate in the short term. The KDJ three-line indicator shows a gradual convergence trend, and the lower shadow indicates strong support below the lower band. Once the consolidation phase ends, we continue to expect a rebound from the bottom.
In the short-term hourly chart, the long lower shadow on the candle hindered the rebound trend in the early morning. The support below is also quite evident, with multiple tests around the 70.5k mark. The short-term trend is still dominated by the downward trend, and our strategy remains to short on rallies and buy on dips, with a focus on shorting.
Currently, I do not recommend opening new positions. If you're unsure about entry points, you can consult XS Sister Lin.