4.21 Afternoon Bitcoin Market Outlook

Bitcoin quickly surged and rebounded in the afternoon, reaching around 76,200 before facing resistance and turning downward. The current price has fallen back to around 75,900, fluctuating within a range. This rebound is a technical correction after an oversold condition and has not truly broken the overall pattern of high-level sideways decline. Resistance above 76,500 is very strong, and after the rebound faces selling pressure, bearish selling will be released again. The highs will gradually move lower, and the downward momentum is building. The overall strategy is to focus on high-level resistance during rebounds and to only briefly support at lower levels.

In terms of market structure, this rebound has not formed a trend reversal; it is merely a correction within a range. Short-term signals of weakening upward momentum have appeared, with bullish volume rapidly diminishing. Multiple layers of strong resistance above suppress the upward movement, so the rebound lacks continuity. Bears still control the market rhythm, and the downside space will open again.

Trading Suggestions

Gradually sell short near 76,500 during the rebound, with the first target around 75,600. If broken, follow the trend downward, paying close attention to positions above 76,500. Wait and see if broken. For deep declines, watch around 73,500, with potential further drops toward 73,500 if necessary. If there is an unexpected dip back to around 75,400, consider short-term light long positions for small rebounds, targeting only around 75,900, with strict stop-losses. Enter and exit quickly.