$BTC 4/20 Bitcoin midday analysis:

✅Trading ideas:
A volume breakout above 74957 can be followed by a long position on the right side;
A volume drop below 73773 and a rebound that fails to recover—if it cannot stand back above—can be followed by a short position on the right side. Set your stop-loss strictly.
Hourly level: Hold above 74957; look above for 76273-77454
4-hour level: Break below 73713; look below for 71724-70552
Bitcoin has fallen from the new high of 78300. After breaking below the 76200 support, it probed down to 74890 to stabilize and then rebounded. After this level was lost, it turned into strong resistance. The rebound faced pressure multiple times and failed to break through, forming a standard second retest structure. Moreover, the second probe dipped below the previous low; in the morning, the lowest point touched around 73669.
73670 is the current key defense level. Once it breaks, the previous bullish structure on the hourly timeframe will be completely invalidated, and the price will most likely further probe down to the 73400 support. From 78300 to 73670, there has already been a nearly 4000-point pullback. The upside/downside room is basically used up; continuing to fall deeply is unfavorable for the overall trend.
For the market to stop falling and rebound, it must hold above 74890. Only then can it attempt to push toward 76200. After breaking that level, there will be a chance again to challenge the previous high of 78323. If it cannot stand above 74890, as long as 73670 is defended to maintain range-bound consolidation, the hourly timeframe still has a chance for a counterattack. A break would weaken the trend. Today during the daytime, it is highly likely to range and consolidate within 73670-74890.
4-hour level: Price broke below the middle band of the Bollinger Band (75723). The MACD death cross is continuing, but the red histogram has started to shrink. RSI is approaching the oversold zone, and downside momentum has clearly weakened. Key support is 73713; once effectively broken, the space below will open up to 71724-70552. Strong resistance is the Bollinger middle band at 75723; only after holding it can there be a chance to repair the downward trend.
• 1-hour level: Currently positioned between the lower Bollinger band (73648) and the middle band (74883). The MACD golden cross has just formed; green bars are increasing, indicating that short-term rebound momentum is being released. The Bollinger middle band at 74883 overlaps with the key resistance at 74957. Holding above confirms that the rebound is continuing, with upside targets at 76273-77454. If the rebound meets resistance and falls back, holding 73773 still offers a chance for oscillation and a rebound.
• 15-minute level: Currently in a short-term rebound phase. Price holds above the Bollinger middle band; the MACD golden cross continues, but RSI is approaching overbought, so be cautious of a spike-and-fall. For a short-term pullback, watch the 74392 Bollinger middle band support; if it stabilizes, the rebound continues. If it breaks, it will likely link to a 1-hour pullback.
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