BroadChain News, April 27 at 11:45, according to NewsBTC, Bitcoin price has initiated a new upward rally after stabilizing above $76,000, successfully breaking through the $78,500 resistance level and reaching a high of $79,480. BTC is currently consolidating above $78,200, supported by the 100-hour simple moving average, with a bullish trend line forming at $78,250 on the hourly chart.
If the price remains above $78,200, the short-term resistance level is at $79,200, with key resistance at $79,500. Once it effectively breaks through $79,500, Bitcoin may further test the $80,000 mark, and even move towards $81,200 and $82,000.
On the downside, if it fails to break through $79,500, BTC may pull back. Initial support is at $78,600, with major support at $78,300 (50% Fibonacci retracement level) and the trend line at $78,250. If it loses the $77,250 level, it could further decline to $76,500, with key support at $75,000. On the technical indicators, the hourly MACD is accelerating in the bullish zone, and the RSI is above 50, indicating short-term momentum is relatively strong.