April 18 Bitcoin Morning Analysis

Yesterday, BTC broke out of the wide-ranging consolidation pattern, ushering in a strong upward trend. The price started rising sharply from the support level of $74,500, with the highest intraday touch at $78,300, successfully breaking through previous key resistance, and closing above the $77,000 mark. The daily chart shows a large bullish candlestick, with trading volume significantly increasing, indicating a full recovery of bullish market sentiment and the establishment of a trend-based upward movement.

From a daily perspective, BTC's large bullish candlestick body broke through the previous consolidation platform, with short-term moving averages aligned bullishly. The MACD indicator shows a golden cross divergence, with bullish momentum continuously releasing, and the trend structure remains strong and positive. On the 4-hour chart, the price is running along the upper band of the Bollinger Bands, maintaining a complete upward channel. Although there is a technical correction need in the short term, the pullback is limited and belongs to a consolidation phase in the upward trend, not changing the dominant bullish pattern. Key levels: resistance at $78,500 and $80,000; support at $76,800 and $75,500.

Saturday morning suggestion: Bitcoin dips back to $76,800–$76,500 to buy, with a stop loss at $76,000, targeting $78,500–$80,000.

Short-term assistance: If $78,500 faces resistance, consider a small short position with a stop loss at $79,200, target $77,200, quick in and out $BTC