#BTC 4.20 Monday Night Bitcoin Analysis

Bitcoin on the hourly chart is about to break out of a triangle consolidation. The key point to watch is the previous high near 75,500. As long as the price stays above 74,929, the rebound trend will continue. Before breaking through 76,237, this can only be seen as a rebound, not a reversal; only after a successful break of 76,237 will the real upward space open up, further challenging 77,573 and the previous high of 78,283.

Don't assume a reversal at the first sign of a rise, or panic and short-sell at the first drop. Approach volatility rationally. The support at 73,537 has been tested four times and confirmed as effective. Previously, the rally to 78,283 was based on this support. If the price stabilizes again at this level, based on structural patterns, there is still a chance for a rebound to test 78,283 again. If it breaks the previous high, the upward trend continues; if it encounters resistance near 78,283 and stalls, it is likely to retest the 73,537 support. The prerequisite is a break above 76,237, which is necessary to attempt to reach the previous high.

Trading Suggestions:
• Break above 75,263 with volume and hold steady, follow up long positions
• Break below 74,589 with volume and fail to recover, follow up short positions

• Hourly level: Hold above 75,263, with targets at 76,260-77,412 above; if unable to break above, the rebound is invalid
• 4-hour level: Break below 74,483, with targets at 73,677-72,019 below