April 6th Bitcoin Morning Analysis

The weekly chart shows a small bullish candle with a relatively long upper shadow, clearly indicating significant selling pressure above and insufficient rebound momentum, facing resistance on the upside.

On the daily chart, Bitcoin exhibited a pattern of initial rise followed by decline last week, forming a typical pullback after a surge. The 66,000-66,500 support zone below corresponds to last week's low and is also a previous area of high trading volume support. If this zone is effectively broken downward, the price is likely to further decline toward the 64,000-65,000 range.

On the four-hour chart, the market is currently in a consolidation phase. Although there has been a slight rebound, the overall trend remains unchanged. The 69,000-69,500 zone is a strong resistance area where price has repeatedly surged and pulled back. Therefore, a rebound to this level can be used to directly enter short positions, with a target of 66,600.