🐦April 29 Midday Bitcoin Outlook

After initially weakening and declining, Bitcoin pierced the 76,234 support level, forming a false breakout and pin bar pattern. Currently, the market is rapidly rebounding and has regained stability above the 76,234 threshold.
The key resistance in the current chart is at 76,767, which is the lower boundary resistance of the bearish flag pattern; only if the price effectively recovers within the flag zone can it further challenge the 77,370 critical neckline resistance.
The 77,370 neckline is the dividing line between bullish strength and weakness. A volume-supported hold above this level targets 78,561;
If it fails to break through the neckline and only returns within the flag zone, the market will mainly oscillate within the range, and the phased downward trend will also come to an end.
The core support zone below is:
Short-term support at 76,234, allowing for a second test, but 75,623 is the bottom line for the bulls. If this level is effectively broken, the market will form lower lows, opening the downward space, with subsequent key support at 74,973.

Trading Suggestions:
Break above 76,570 with volume, follow up with long positions
If it effectively breaks below 76,133 and rebounds are weak, consider short positions, strictly controlling risk with stop-loss
Hourly chart: Only if it stabilizes above 76,570 can a rebound upward begin, targeting the range of 77,399–78,504; persistent pressure at 76,570 indicates a weak rebound correction
4-hour chart: Once it effectively breaks below 75,985, a medium-term weakening is confirmed, with the downward target in the 74,950–73,718 range
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