April 13 Afternoon

Bitcoin initially tested the bottom and then rebounded, with the lowest point reaching 70,456. It then fluctuated and recovered, closing above the 71,000 level. Currently, it is consolidating around 71,000.

The geopolitical tensions in the Middle East have temporarily eased, and the market's risk aversion sentiment has cooled. Coupled with short-term bottom-fishing funds entering after the oversold condition, this has driven a corrective rebound in the market. However, it must be clear that this rebound is only a technical correction. The large-scale bearish structure has not fundamentally changed, and the previous downward trend is still ongoing. The 71,500-72,000 range remains a strong short-term resistance. The market is moving in tandem with other assets, with a strategy focused on shorting at high levels and buying on dips.

Trading Suggestions

Bitcoin: Short around 71,500-72,000, first watch 70,000, and if broken, continue to look at 69,500. If a strong rebound breaks through 72,000, consider going long accordingly.