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BTC approaches the critical 75k life-and-death line! Have the main forces completed their shakeout and consolidation? Will the next round of market rally directly target 80k? | In-depth analysis of the April 16 market trends
The current latest price of Bitcoin BTC is 75,031 USDT.
From the overall market structure, Bitcoin experienced a deep correction after reaching a historical high of 126,000, with a low retracement to around 60,000, followed by a clear rebound. Currently, the market has entered a mid-term recovery phase.
The current price has returned to the key zone of 75,000, which is not only a previous dense trading area but also an important dividing line for market bullish and bearish sentiment.
Short-term market core logic:
The oscillation around 75,000 is likely the main force conducting a secondary accumulation.
Once volume breaks through, the market is expected to open up further upside potential.
From the daily chart structure, BTC is currently in a rebound correction phase after a decline.
Key trend structure:
1️⃣ The high point of 126,199 forms a temporary top
2️⃣ The market quickly retraced to 60,000
3️⃣ Then a technical rebound occurred
Recent daily candlestick features:
Lower lows are gradually rising
Oscillation center is moving upward
Market panic sentiment has significantly eased
This usually indicates that the market is building a new mid-term bottom structure.
The 4-hour level currently forms a typical oscillating upward channel.
Trend features:
Lower lows are continuously rising
Pullback amplitude is gradually decreasing
Bull control rhythm is clearly strengthening
Price has tested the 75,000 resistance zone multiple times, indicating there is some trapped and profit-taking volume at this level.
From the 1-hour candlestick, BTC is forming a small ascending triangle structure.
Specific signs:
Lower lows are continuously rising
Resistance levels are being tested gradually
Bullish momentum is gradually strengthening
This structure often indicates:
The market is accumulating momentum for a breakout.
April 16 Trading Strategy
Open position: 75,029.83
First target: 74,957.45
Second target: 74,894.16
Stop-loss: 75,148.83