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▲ Bitcoin (BTC)
Bitcoin (BTC) is continuing its rebound and attempting to break through a key resistance level, but it has entered a tense phase where the uptrend could be broken if it fails to surpass this level.
According to cryptocurrency specialized media NewsBTC on April 22 (local time), Bitcoin successfully rebounded after forming a support base near $74,500, recovering above $75,500. In the short term, it is trading above the 100-hour simple moving average, maintaining an upward structure.
Technically, with an ascending channel formed, $77,350 has been presented as a key resistance level. If this level is broken, further increases to $78,000 and $78,500 are possible, with $80,000 mentioned as the next target.
Indicator trends also support the upside. The Moving Average Convergence Divergence (MACD) shows expanding momentum in the bullish zone, and the Relative Strength Index (RSI) is also above the 50-line, indicating buyer dominance.
Conversely, if the ascent is blocked at the resistance level, a downward reversal is also possible. Short-term support levels are presented at $76,000, followed by $75,650 and $75,400. Analysis suggests that if these levels break, downward pressure could extend to $74,250.
Bitcoin continues to show strong volatility at a critical juncture, where its future direction – continued ascent or a correctional turn – depends on whether it breaks through the key resistance level.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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