🍌4/30 Midday Bitcoin Market Outlook

The market surged to a high of 77,889, just a hair away from the 78,000 psychological barrier, but it was unable to break through and hold firmly.
Failing to breach the 78,000 level, the bulls couldn't open up further upside space, and after a period of stagnation, a decline was initiated as expected. This drop was not a sudden breakout, as the market had already shown clear signals.
A high-level isolated resistance point formed, combined with a bearish engulfing pattern, directly reversing the previous large bullish candle. The previously hard-earned gains were quickly wiped out by the bears, and the correction was a natural result of technical pattern evolution.
The market broke below the lower boundary of the triangle consolidation and the key support at 76,224, with a brief dip to around 74,800 before stabilizing. If the 74,800 support fails, the next target will be the stronger support at 73,751.
Currently, the zone around 76,224, combined with the lower boundary of the triangle, has become a strong resistance area. Only by re-establishing a firm footing here can there be a chance to rebound to 77,278, and breaking through that level could restart the upward trend.
If a bearish pattern forms at higher levels, the market will revisit the support at 74,919:
- Holding steady will form a double bottom pattern, waiting for a directional choice;
- If broken downward, the market will weaken further;
- If short-term bulls and bears remain deadlocked, expect narrow oscillation between 74,800 and 76,224.

Trading Suggestions:
Bitcoin breaks above 76,262 with volume, follow the trend and go long.

If it breaks below 75,643 with volume and fails to recover, strictly set stop-loss orders on short positions.

Hourly chart: Only if it holds above 76,262 can there be upward momentum, targeting 77,310—78,269; failure to hold indicates continued weakness and sideways movement.

4-hour chart: If it breaks below support at 75,471, look towards the 73,701—72,030 range below.