BTC approaches a key resistance zone! 78,000 is just the appetizer; the main players' real target might be here!

As of April 23rd, Bitcoin (BTC) is priced at 78,208 USDT. From an overall structure perspective, Bitcoin has completed a phased bottoming near 60,000 and has begun a mid-term rebound rally. The current price is operating near the key resistance zone of the rebound phase, and both bulls and bears are about to face a new directional choice.

Below, we will conduct a complete analysis from the daily, 4-hour, and 1-hour timeframes.

1. Daily Chart Analysis: Establishment of Mid-term Rebound Trend

From the daily chart structure, this rally can be divided into three stages:

First Stage: Toping out at high levels and then declining

BTC reached a peak near 97,924 in the previous phase before entering a mid-term correction, followed by continuous decline, forming a phased low around $60,000.

This area also features:

Previous high-volume trading zones

Psychological round-number levels

Long-term capital accumulation zones

Therefore, a strong support structure has formed.

Second Stage: Bottom oscillation and accumulation

Between 60,000 and 68,000, BTC has been trading sideways for nearly over a month.

From the candlestick structure:

Multiple dips without breaking below 60,000

Low points gradually rising

Trading volume gradually converging

This is a typical main force sideways accumulation pattern.

Third Stage: Trend reversal and upward movement

Since April, Bitcoin has shown a pattern of continuously raising lows:

This indicates the market has shifted from a bearish trend to a bullish trend.

Currently, the price is approaching the 78,000 resistance zone.

2. 4-Hour Chart Analysis: Upward Channel Structure

From the 4-hour candlestick chart, BTC is currently within a standard upward channel.

It can be seen that the highs and lows are rising in sync, indicating a healthy trend.

Two other important technical signals:

1. Bullish moving average alignment

MA20 trending upward

MA60 trending upward

MA120 beginning to turn

This is a typical bullish trend structure.

2. The retracement amplitude is gradually weakening

Recent retracements:

First retracement: 8%

Second retracement: 5%

Third retracement: 3%

This shows selling pressure is decreasing, and bullish control is strengthening.

3. 1-Hour Chart Analysis: Short-term Breakout Preparation

From the 1-hour perspective, BTC is currently in a small upward flag consolidation.

Features are very clear:

Uptrend → sideways consolidation

Uptrend → sideways consolidation

This is a typical trend continuation pattern.

The market currently has two possible scenarios:

Scenario 1: Breakout directly

If 78,000 is broken with volume:

Short-term targets:

80,000

82,000

Scenario 2: Pullback to gather strength

If a short-term retracement occurs:

Pullback zones:

77,000

76,000

As long as 76,000 is not broken, it remains a healthy pullback.

Today’s trading strategy (April 23rd)

Direction: Long position

Entry price: 78,208

First target: 77,034

Second target: 75,856

Stop-loss: 79,771