🍓4/28 Midday Bitcoin Market Outlook

The current price channel for Bitcoin in this cycle has already proven effective in breaking down, and downward momentum can now be released. Before the price lost the key support at 77,370, it had attempted an upward pullback to probe the resistance around 78,437, but the bulls’ counterattack lacked enough strength; the rebound was immediately cut off and failed to hold above that resistance.
With no strength to continue after the rebound, the chart can only extend the downward trend. By relying on the decline to search for lower strong support, it can absorb market buy pressure. As the channel structure breaks down + key support is breached, the short-term weak pattern has been established. At present, the lower boundary of the original price channel at 77,370 has shifted from support to short-term strong resistance. Only by regaining and trading back within the channel can the current slow drift downward tempo be stopped, and only then is there a chance to once again challenge the 78,437 resistance level later.

For the market to reverse and turn stronger, it must effectively break through and hold above 78,437; otherwise, as the price continues to face pressure below 77,370, the slow downtrend will keep going, and any short-term rebounds will only be weak corrective bounces.
Even if, after breaking below 77,370, there is a small oversold rebound, it still will not be able to return above that level. The resistance overhead is extremely strong, so the market will likely make a second move lower to test the core support at 76,400.

If the first pullback to the 76,400 support holds and does not break, the market will rebound again to challenge the 77,370 resistance; if it repeatedly fails to get past 77,370 under pressure, then multiple pullbacks will directly break the 76,400 support, and the next downside targets will look toward the key support zone around 74,913.
The short-term key range is locked: resistance at 77,370 overhead, support at 76,400 below. As long as there is no effective breakdown, the market will maintain range-bound consolidation and wait for a directional breakout decision.

Trading recommendations:
If Bitcoin breaks through 77,379 with volume and stabilizes to confirm, then chase longs on the right side following the trend;
If it breaks down below 76,572 with volume and the rebound cannot reclaim that level, then follow with short positions on the right side—strictly attach and follow a stop-loss to control risk.

Hourly timeframe: If it successfully breaks through and holds above 77,379, the short-term rebound target is 78,446—79,456. If it cannot break above 77,379, the bulls have absolutely no room to exert strength.
4-hour timeframe: An effective breakdown below 76,417 indicates the continuation of the medium-term correction. Downside support is at 74,913—73,814.

$BTC
#WCTC交易王PK
#加密市场小幅下跌