According to BroadChain, at 11:46 on April 23, NewsBTC reported that after touching support near $74,850, Bitcoin's price initiated a new round of upward movement, successfully breaking through the resistance levels at $75,500 and $77,200, and even reaching a high of $79,490. Currently, the price is consolidating above $77,200, remaining above the 100-hour simple moving average.
Technical charts indicate that a short-term descending channel is forming on the BTC/USD hourly chart, with resistance near $78,500. If the price can stabilize above the $77,000 support level, it may attempt another upward move, with a key resistance level at $79,200. A breakthrough above this resistance could see the price test $79,500 and further challenge the $80,000 and even $82,000 thresholds.
If it fails to break through the $78,500 resistance zone, a correction may begin. Immediate support is at $77,700, with the main support level at $77,150 (corresponding to the 50% Fibonacci retracement level from the low of $74,850 to the high of $79,490). The next support is near $76,650; if breached, the price could drop to $75,500. The key support level is at $75,000.
In terms of technical indicators, the hourly MACD shows weakening momentum in the bullish zone, while the hourly RSI remains above the 50 level, indicating that market sentiment has not yet turned completely bearish.