🫐4/21 Midday Bitcoin Outlook

Bitcoin's current rebound has failed to hold above 76272 throughout this rally. As previously emphasized, until this resistance is effectively broken, all upward movements are weak rebounds. Only a volume-supported break above 76272 can open the door to a trend-based rally. The market has tested this level twice and been rejected, now entering a correction phase.
76272 is the natural rebound high since the decline from 78323. Failure to break this level previously triggered a pullback to 73500. Therefore, breaking or not breaking this level is the key dividing line between bulls and bears. A break above targets 77561; a rejection indicates continued correction.
Technically, the bearish flag pattern has broken down, and a short-term retest of support at 74890 is expected. If this level holds, the range will likely oscillate between 74890 and 76272; if broken, further testing of the previous low at 73510 is possible. As long as 73510 is not broken, the structure remains manageable, and a double-bottom pattern may form with the previous low. A confirmed break below 73510 would enlarge the decline, with the best scenario being a hold above 74890 followed by a rebound.

Trading Suggestions:
• Volume-supported breakout above 76273, go long with the trend, target 77474-78323
• Volume-supported breakdown below 75299, if a rebound fails to recover, go short with the trend
• 1H: Hold above 76273, look toward 77474-78323
• 4H: Break below 75236, look toward 73758-71990
$BTC
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