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The current situation is as follows: Bitcoin suddenly rises to $79,000, and it seems that the price has already crossed an important level.
But right now, everyone on the street is crazy, rushing to buy, all thinking that this rally has surely reached its peak, they are rushing to chase it.
To be honest with you, I am very familiar with this kind of atmosphere, just like the sharp crash of 2022!
Major institutions really love to create this kind of trap, their steps are already prepared:
First, pretending to break through the peak of the rally 🐑 → Deceiving people into entering and buying → then suddenly dropping the price by 10% to 15% → and repeating.
This year alone, they have already staged this kind of spectacle three times:
February: rise to a high peak, then an 11% drop;
March: pretending to surpass the all-time high, resulting in a brutal 15% fall;
Now April: the $79,000 figure again, a trap!
After this trick, it’s time for a real big drop to buy in at lower levels.
The current situation is: fewer and fewer people want to sell, and those who want to buy are also trapped and cannot move, the market looks like dead water.
Bitcoin in 2022, from $65,000 to $18,000, wasn’t that lesson enough?
In 2026, it’s even more dangerous, if it really surpasses $58,000, it’s only a matter of time. #WCTCTradingChallengeShare8MUSDT #$BTC
🪙 BTC Technical Analysis — Weekly
$BTC
📍 Current situation
Current price: ~71,800 $
Timeframe: Weekly
Structure: Correction within a bull market
Clear observations:
A strong upward impulse up to ~120K
Then a violent correction
Now the price stabilizes around the key level 0.5 Fibonacci
📐 Important Fibonacci levels
According to your chart:
🔴 0.5 → ~70K (Current major support)
🟡 0.618 → ~60K (Critical support)
🟢 0.786 → ~40K-45K (Extreme support if a crash occurs)
👉 BTC is exactly on the 0.5 support. It’s a zone where whales often accumulate
📈 Market structure
Noticing:
1. Long-term trend still bullish
Higher Highs respected
Weekly MA (blue line) = dynamic support
BTC: Corrects
Lies on the moving average
Generally prepares the next impulse
🐳 What whales are doing currently
Very important:
Violent dump (market fear)
Return to major support
Slow consolidation
👉 This is typically a silent accumulation zone
It’s exactly:
2020 before the bull run
2023 before the 2024 explosion
📊 Possible scenarios
🟢 Bullish scenario (most likely)
If BTC holds 70K
Targets:
85K
100K
120K (retest ATH)
140K — 160K (possible cycle peak)
🔴 Bearish scenario
If BTC breaks 70K
Next zones:
60K (0.618)
50K (psychological zone)
45K (extreme support)
But currently: 👉 The structure remains bullish
🧠 Market Psychological Reading
Currently:
Retail: fear
Whales: accumulation
Market: compression
➡️ Generally, this indicates a big explosion is coming
🔥 Very Important Signal
You notice:
Sharp drop
Then small weekly candles
Decreasing volatility
👉 This often precedes a major impulse
---
My Personal Opinion (as if I’m translating for myself)
I see:
Weekly accumulation zone
Major support respected
Bullish structure intact
➡️ I expect: a gradual bullish rebound then an explosive move
🧭 What pros are watching now
The confirmations:
Break 75K
Break 80K
Growing weekly volume
If this happens: 👉 The bull run seriously resumes