(function() { var didInit = false; function initMunchkin() { if(didInit === false) { didInit = true; Munchkin.init('105-GAR-921'); } } var s = document.createElement('script'); s.type = 'text/javascript'; s.defer = true; s.src = '//munchkin.marketo.net/munchkin.js'; s.onreadystatechange = function() { if (this.readyState == 'complete' || this.readyState == 'loaded') { initMunchkin(); } }; s.onload = initMunchkin; document.getElementsByTagName('head')[0].appendChild(s); })();(function(h,o,t,j,a,r){ h.hj=h.hj||function(){(h.hj.q=h.hj.q||[]).push(arguments)}; h._hjSettings={hjid:1422437,hjsv:6}; a=o.getElementsByTagName('head')[0]; r=o.createElement('script');r.defer=1; r.src=t+h._hjSettings.hjid+j+h._hjSettings.hjsv; a.appendChild(r); })(window,document,'https://static.hotjar.com/c/hotjar-','.js?sv=');

Bitcoin Extends Gains, Can Bulls Drive A Larger Rally?

Article background

Aayush Jindal

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.
Excellent
Trustpilot
Open a Live accountOpen a Demo account
Loading