Today’s Bitcoin Market Outlook (Weekly)

1. Trend Structure: The price started a main downtrend from the high of 73,773.4 on the early morning of April 12, with a lowest dip to 71,259.0. The largest 15-minute daily decline exceeded 2,500 points, forming a classic “high-volume breakdown + rapid bottoming” bearish trend structure. The medium-term downward channel has been fully established.
2. Moving Averages and Bollinger Bands (BOLL) Status:
◦ The Bollinger Bands (20,2) show an extremely wide downward divergence, with the upper band (UPPER: 71,838.9), middle band (MID: 71,634.6), and lower band (LOWER: 71,430.3) all moving downward in sync. The lower band continues to decline after the sharp drop, and the current price is only weakly oscillating below the middle band, entirely within the downward Bollinger channel, indicating a clear bearish trend signal.
◦ The middle band at 71,634.6 has become a strong resistance level. The price has repeatedly rebounded but failed to break through effectively, showing that the bulls have no capacity for a counterattack, and the bears firmly control the market.
3. Key Price Level Verification:
◦ Strong Resistance Zone: 71,800–72,000 (Bollinger upper band + previous low breakout resistance zone), which is the core ceiling of this rebound. As long as the price cannot stabilize above this zone, the bearish trend will not reverse.
Bitcoin: Rebound to 72,000–72,500, then look for a decline.
First target: around 71,100
Second target: 70,000 (cautiously)