Bitcoin price movements may have reached their length on the horizontal axis and their height on the vertical axis, perhaps it's time to consider!

In the crypto world:
1. On April 16, according to monitoring, in the past 8 hours, BlackRock transferred out 3,446 Bitcoins from Coinb, with an average price of 74,056, valued at about 255.2 million USD.
2. On April 16, according to monitoring, Tether's Bitcoin reserve address transferred out 951 BTC from Bitf about 3 hours ago, with an average price of 74,100.
3. On April 16, according to monitoring, Matrixport-related entities have fully closed their last position of 25,000 ETH (20x leverage) long positions, and after holding for about 65 days, realized a profit of 17.32 million USD.

In the market:
1. On April 15, according to AXIOS, two U.S. officials stated that U.S.-Iran negotiators made progress during talks on Tuesday local time, and both sides are moving towards a framework agreement to end the war. Market news suggests that the U.S. and Iran are considering extending the ceasefire by two weeks.
2. On April 16, sources expect that Israel anticipates the ceasefire agreement with Iran will be extended.
3. On April 16, the U.S. Central Command issued a statement on the 15th, saying that within 48 hours of implementing a blockade on Iranian port ships, "no ships successfully passed through U.S. military defenses." Additionally, nine ships obeyed U.S. orders and turned back to Iranian ports or coastal areas.
4. On April 16, U.S. stocks closed with the Nasdaq up 1.59%, the S&P 500 up 0.8%, also hitting a new high, and the Dow down 0.15%. Overall, macro market geopolitical tensions further eased. Against this background, Bitcoin continues to show buying activity!

BTC price:
Daily level: The price continues to challenge the 76,000 level. Yesterday saw a mild pullback, which did not effectively change the overall trend. Currently, the price remains above 74,000. This level has moved away from the W-shape pattern, within the range controlled by the candlestick bodies around 3.17. According to market rules, the length on the horizontal axis and the height on the vertical axis are proportional. What needs attention now is that once resistance is broken, a potential one-sided trend may follow. Overall, the main strategy remains low buy, cautious with short positions, and minimize risk while maintaining strict risk control!

On the upside: initial resistance at the 76,000 level, further attention to the upper band of the weekly Bollinger Bands near 77,901.

On the downside: initial support at the 72,318 level, further support near the 30-day moving average at 69,789.

Investing involves risks; enter the market cautiously.