4.12 Market Update | Bitcoin Consolidates Narrower, How to Operate on the Eve of a Reversal?

Bitcoin has been trading sideways between 69k and 72k for 5 days, with volatility continuously shrinking. On-chain data shows a large amount of chips accumulated around 69,000, forming a strong support. However, the 72,000 level is also a previous high resistance zone, with both bulls and bears waiting for a signal.

Key observation points:

1️⃣ 4-hour chart, EMA7 and EMA30 are about to converge, Bollinger Bands narrowing to within 3% (a sign of a potential reversal)

2️⃣ If volume breaks through 72,500, the next target is 75,000-76,000

3️⃣ If it falls below 68,500 (especially with high volume), it may retest 66,500

Contract trading: temporarily only open small positions for short-term trading (leverage ≤ 3x), follow the breakout signal to enter the position