April 6 Midday Bitcoin Outlook

On the hourly chart, a standard 1-2-3 reversal pattern has emerged: first breaking the downtrend line → retesting without breaking the new low at 66,465-66,225 → making a new high, confirming the reversal. However, near 69,321, a shooting star candlestick appears with massive resistance: despite high volume, it’s only a false breakout with no significant rally, indicating bulls are struggling and facing strong resistance.
A healthy move would be a retest around 67,845-67,418 before moving higher; directly pushing to 69,356 is difficult, as liquidity from the bears is limited above, so don’t get caught up in a sudden surge.

Trading suggestions:
- Buy on volume and hold above 69,356, aiming for a breakout on the right side
- Buy on retest at 67,993, with a stop loss below 67,000
- If volume drops below 68,760 and a rebound fails to recover → consider shorting on the right side
- Hourly: hold above 69,356 → watch for 70,531-71,419
- 4-hour: if it breaks below 68,687 → look at 67,863-66,598$BTC