Summary
BroadChain learned that at 15:16 on April 20, according to Bitcoinist, after Bitcoin broke through $78,000 last week, market bullish sentiment has heated up again, with some predictions pointing to its return to the six-figure mark. However, cryptocurrency analyst Behdark holds a different view, believing that the current rally may mislead investors or be a strategy by market makers to attract broad participation before prices fall again. He pointed out that Bitcoin's underlying structure remains bearish, as it appears to be forming a triangle or double zigzag correction pattern. Such complex correction patterns are often accompanied by a rebound illusion, followed by further declines. Both patterns suggest that prices may fall first and then rise, providing investors with opportunities to buy on dips. The analyst indicated
BroadChain has learned that at 15:16 on April 20, according to Bitcoinist, after Bitcoin broke through $78,000 last week, market bullish sentiment has heated up again, with some predictions pointing to its return to the six-figure mark. However, cryptocurrency analyst Behdark holds a different view, believing that the current rally may mislead investors or be a strategy by market makers to attract broad participation before prices fall again. He pointed out that Bitcoin's underlying structure remains bearish, as it appears to be forming a triangle or double zigzag correction pattern. Such complex correction patterns are often accompanied by false rebounds, followed by further declines. Both patterns indicate that prices may fall first and then rise, providing investors with opportunities to buy on dips. The analyst highlighted key resistance levels to watch: first, above $77,000, as price momentum weakens; second, $80,552, which may pose the strongest resistance to the current rally and could trigger a downward correction. Once the decline begins, the first support level is above $72,800, followed by $67,885; if the latter is broken, prices may fall another 10%. The last key level is $67,677, still above the established $60,000 support level for this cycle.
