Bitcoin market movements: how long is the horizontal and how high is the vertical? Maybe it's time to consider!

Crypto market:
1. On April 16, according to monitoring, in the past 8 hours, BlackRock transferred out 3,446 bitcoins from Coinb, with an average price of 74,056, worth approximately 255.2 million USD.
2. On April 16, according to monitoring, Tether's Bitcoin reserve address transferred out 951 BTC from Bitf about 3 hours ago, with an average price of 74,100.
3. On April 16, according to monitoring, Matrixport-related entities have fully closed their last position of 25,000 ETH (20x leverage) long position, and after holding for about 65 days, realized a profit of 17.32 million USD.

Market:
1. On April 15, according to AXIOS, two U.S. officials stated that U.S.-Iran negotiators made progress during talks on Tuesday local time, and both sides are moving towards a framework agreement to end the war. Market news suggests that the U.S. and Iran are considering extending the ceasefire by two weeks.
2. On April 16, sources expect Israel and Iran's ceasefire agreement to be extended.
3. On April 16, the U.S. Central Command issued a statement on the 15th that within 48 hours of implementing a blockade on Iranian port ships, "no ships successfully passed through U.S. military defenses." Additionally, nine ships obeyed U.S. orders, turning back to Iranian ports or coastal areas.
4. On April 16, U.S. stocks closed with the Nasdaq up 1.59%, the S&P 500 up 0.8% to a new high, and the Dow down 0.15%. Overall, macro market geopolitical conflicts further eased. Against this background, Bitcoin operations continue with buying actions!

BTC market:
Daily level: The price continues to challenge the 76,000 integer level. Yesterday, there was a slight pullback, which did not effectively change the overall trend. The current price remains above 74,000. This level has already broken away from the W-shape pattern, controlled within the candlestick body around 3.17. According to market rules, the longer the horizontal, the higher the vertical. What needs attention now is that once resistance is broken, a potential one-sided trend may follow. Overall, trading remains mainly long on dips; short positions require extra caution, minimizing them as much as possible, and risk control must not be neglected!

Upside: initial resistance at the 76,000 level, further attention to the upper band of the weekly Bollinger Bands near 77,901.

Downside: initial support at the 10-day moving average near 72,318; further support at the 30-day moving average near 69,789.

Investing involves risks; enter the market cautiously.