🍍4/22 Midday Bitcoin Market Outlook

Last night's market movement was clearly a shakeout, with an initial dip breaking below the 74,890 support level and then quickly recovering. The candlestick formed a bullish engulfing pattern, followed by a rebound breaking through the 76,272 resistance, returning to the flag pattern range for trading. Overall, it remains in a consolidation phase with oscillations.
If the next high of 76,925 is effectively broken, there is potential to test 77,561, further challenging the previous high of 78,323. Attention should be paid to the strength of the breakout to avoid a quick rise followed by a pullback.
A pullback that holds above 76,272 indicates a continued bullish trend; if this level is broken, it will test the 74,890 support again, and if lost, the next target is 73,510.

Trading suggestions:
A volume breakout above 77,325 can be followed with a long position on the right side, targeting 78,323-79,264;
If volume drops below 76,246 with a weak rebound, consider short positions, targeting 75,012-73,758.
Set strict stop-loss levels and control position sizes.
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