#BTC Thursday night, April 16th Bitcoin outlook

Bitcoin's recent trend has been very consistent, with continuous narrow fluctuations during the day. The market direction mainly depends on the US stock market opening, and the intraday fluctuation range is still narrowing. Currently, it is oscillating within a narrow range of 75,253 to 74,479.
The 4-hour timeframe has been consistently moving within the price channel, and it has already attempted a second breakout above the previous high of 76,000 but was unsuccessful. The next focus is on whether the retest can hold the neckline at 73,520:
• Holding above 73,520, there is a third chance to push towards 76,000
• Breaking below 73,520, the 4-hour consolidation will end, and it will test the lower boundary of the channel. If the channel is also broken, the market will fall sharply. Wait for a sign of a bottom around 70,541 before considering long positions.
Only a volume breakout above the key resistance at 75,400 will give a chance to test the previous high of 76,000. The early session has tested 75,400 three times without success. If the upward attempt fails again, the hourly chart is likely to form a top within this range and then start a correction.
A breakout above the box can continue the upward trend. If it breaks below the lower boundary of the box, it will first retest support at 73,776. If that fails, it will further test 72,578. It’s important to note that the correction is just a buildup, not a trend reversal.

Evening trading suggestions
• Volume breakout above 75,000, consider long positions on the right side
• Volume drop below 74,307 and unable to rebound, consider short positions on the right side
• Strictly set stop-loss
• If the hourly chart stabilizes above 75,000, look for targets at 76,010-76,638
• If the 4-hour chart breaks below 74,395, look for support at 73,520-72,470$BTC