Key Highlights
- Bitcoin started a fresh increase above $75,000 and $76,500.
- A bullish trend line is forming with support at $76,000 on the 4-hour chart of BTC/USD.
- Ethereum also climbed over 5% and surpassed $2,400.
- Gold is consolidating below the $4,850 resistance.
Bitcoin Price Technical Analysis
Bitcoin price remained supported above $74,000 against the US Dollar. BTC formed a base and started a fresh increase above $76,500.
Looking at the 4-hour chart, the price settled above $76,850, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The bulls even pumped the price above the 76.4% Fib retracement level of the downward move from the $78,369 swing high to the $72,723 low.
On the upside, the price now faces resistance near $79,200. The first key hurdle is $80,000. A close above $80,000 could send the price toward $81,250 or the 1.618 Fib extension level of the downward move from the $78,369 swing high to the $72,723 low.
Any more gains might call for a test of $85,000. Immediate support sits at $76,500. The first key support could be $76,000. There is also a bullish trend line forming with support at $76,000. The main breakdown support could be near $74,000.
A downside break below $74,000 might start another decline. The next major support is $72,000, below which BTC could decline toward $70,000.
Looking at Ethereum, the price also gained bullish momentum above $2,350, and the bulls could now aim for a move toward $2,550.
Today’s Key Economic Releases
- US Initial Jobless Claims – Forecast 212K, versus 207K previous.
- US S&P Global Manufacturing PMI for April 2026 (Preliminary) – Forecast 52.5, versus 52.3 previous.
- US S&P Global Services PMI for April 2026 (Preliminary) – Forecast 50.0, versus 49.8 previous.
