🫐4/24 Midday Bitcoin Outlook

Currently, Bitcoin is maintaining a range-bound fluctuation between 78,575 and 77,403 on an hourly basis, with the low points continuously rising. It has not yet broken the new high of the current phase. As long as the pullback does not effectively break below the lower boundary of the range at 77,483, the downward space will not further expand.

Compared to the previous two downward probes: the first drop directly touched around 76,500, and the second retracement only reached 76,900, with the lows gradually rising. The bearish selling momentum continues to weaken. Consecutive hammer bottom signals indicate strong support below, hindering the bears' efforts. The bulls' support remains solid, and there is no current intention to continue a correction in the short term.

At this stage, the market is in a phase of choosing direction. The fluctuation will not last long, and both bulls and bears have opportunities for contest. Wait for the range to break out and establish a clear trend before entering positions, which will significantly improve trading success rates.

The key short-term resistance level is 78,575. A confirmed breakthrough and stabilization above this level will allow a rally toward the previous high of 79,444.

The critical support level is 76,500. As long as the extreme pullback does not fall below this point, the overall market remains in a controllable oscillation pattern. Once it effectively breaks below, a new round of sustained decline will begin.

Trading suggestions:
✅ On the hourly chart, a volume breakout above 77,997 indicates a bullish continuation, aiming for 78,575—79,444. If it cannot hold above this resistance, the bullish momentum will be limited.
✅ A volume breakdown below 77,437 support with a weak rebound signals a bearish continuation.
• Hourly chart: Stabilizing above 77,997, look for upward pressure; if resisted, expect continued range-bound oscillation.
• 4-hour chart: A confirmed breakdown below 77,553 targets the 76,533—74,979 range.
$BTC
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