Today’s Bitcoin Technical Analysis (Wednesday)

1. BOLL Band Pattern
◦ The current price is 71438.1, trading below the middle band (71472.9) and close to the lower band (71408.9). This is a typical weak zone signal, indicating short-term bullish momentum is relatively weak.
◦ The early session high of 72743.4 directly touched the upper band and then pulled back, confirming strong resistance at the upper band. Future rebounds should focus on whether the upper band can be broken.
◦ The Bollinger Bands are not showing obvious expansion or contraction. Short-term fluctuations are mainly range-bound, with no extreme trend reversal signals.
2. Position and Trend
◦ After the price broke below the middle band, the middle band shifted from support to resistance. The primary target for the current rebound is to retest the middle band (71472.9). Whether it can hold is key to short-term bullish or bearish direction.
◦ The lower band (71408.9) is the current first support. If broken, there is a high probability of testing the 71000 psychological level; if it holds, a slight rebound is expected.

I believe everyone saw the overall market surged dramatically last night because the US issued a statement yesterday about a ceasefire with Iran. The situation is gradually stabilizing, and there is hope for world peace.
Bitcoin, Ethereum, and gold are all welcoming spring #Gate广场四月发帖挑战 #加密市场行情震荡 #国际油价走高 $BTC $ETH $GT