April 27 Afternoon Bitcoin Market Outlook

Bitcoin surged to near 79,450 this morning but faced resistance and pulled back, then quickly declined with increased volume in the afternoon, with the lowest dip to 77,409 support level, currently trading weakly around 77,560 with sideways fluctuations.

The rebound strength is extremely weak, with poor continuity, and the overall bearish momentum continues to dominate. The key resistance zone above remains firmly suppressing the price, and the major downtrend has not reversed. The overall trend remains one of rebound pressure and continued weakening.

In terms of trading strategy, maintain a focus on shorting during rebounds, with light long positions at low levels for short-term gains.

Currently, the short-term rebound momentum is continuously weakening, the downward trend structure is intact, and the signals of resistance during rebounds are very clear. The risk of chasing high at the top is very high. Resistance levels above may be quickly met with selling pressure again, leading to a second decline to new lows.

Trading Recommendations

Short at the 78,000-78,500 rebound zone, with the first target at 77,400. If broken, follow the trend to watch the 77,000 level.