Bitcoin Testing Key Structure Breakdown or Reversal From $78K?

Apr 10

Bitcoin is currently trading within a developing bearish flag structure, following a strong impulsive decline from the upper trendline and macro supply region of the rising wedge. The corrective move remains technically weak, characterized by compressed price action and lack of bullish expansion, which typically aligns with continuation patterns.

However, despite the bearish formation, a confirmed breakdown is not yet validated.

The key focus lies on the determinant level around $78,000, which serves as a pivotal structural threshold. This level has previously acted as a significant reaction zone and now represents the decision point for directional bias. A decisive rejection below this level would confirm bearish continuation, opening the path toward the lower demand block around $52,700, where liquidity is expected to be resting.

On the other hand, if price holds and reclaims above $78K, it introduces the possibility of a corrective expansion toward the major supply block near $109,000, aligning with prior distribution and macro resistance. The mapped supply and demand zones provide a structured framework for scenario planning, allowing for objective decision-making rather than anticipation.

Apr 11

Trade active

Key Levels to watch

Resistance: Important Supply Block near $78 and the upper Supply Zone extending toward $80k.

Current Price Action: BTC has been consolidating below the $78k supply zone after a strong recovery from the February lows.

Support Levels:
1. Immediate support around $68k which is dynamic trendline support.
2. Stronger demand zone near $59k
3. Deeper support at $51k

Apr 12

Trade closed manually

Time to re-evaluate the current consolidation zone on BTC and study it carefully.