Analyst: Bitcoin's Trend This Week Depends on These Four Key Price Levels

According to BroadChain, at 21:00 on April 21, based on approximately 450 weeks of historical data, analyst Sherlockwhale has identified four key price levels for Bitcoin's performance this week: $79,800, $79,116, $74,480, and $69,861. Last week, Bitcoin closed around $76,000, with a weekly gain of 7.2%. However, the weekly close was in the upper 70% of the range, and historical data indicates that when the price breaks previous highs and closes in this manner, the probability of a decline in the following week is approximately 62%. On the upside, if Monday's closing price exceeds $79,800 (about 5% higher than the weekly opening price), the probability of a weekly gain reaches 89.6% (95.5% based on data after 2021). $79,116 (slightly above the previous high of $78,333) is a key level to confirm a breakout above resistance. If Wednesday's closing price is more than 3% higher than Monday's opening price, the probability of a weekly gain is 86%; if the increase exceeds 5%, the probability rises to 91.4%. On the downside, if Monday's closing price falls below $74,480 (about 2% lower than the opening price), it may indicate that the previous upward trend was a false breakout. If Wednesday's decline exceeds 2%, the probability of a weekly loss is about 80%. If $69,861 (slightly below the previous low of $70,567) is reached, it means the weekly range has been fully swept. However, historical data shows that the probability of a rebound and a positive close for the remaining time of the week is approximately 81.8%.