As Bitcoin’s upward momentum in April continues, the latest charts indicate growing pressure on its price. Even though the leading cryptocurrency remains within an ascending channel on Binance’s four-hour chart, technical indicators are showing weakening strength in the recent rally. This shift signals short-term risks for market watchers and traders closely monitoring price action.
Support levels under threat as RSI raises alarms
The BTC/USDT pair has been moving upward inside a channel since the start of April, notching both higher highs and higher lows. Bitcoin rebounded from around $68,000 early in the month, advancing to reach the $78,000–$79,000 range in the days that followed.
According to analysis shared by Ted Pillows, while the price has headed higher, the weakening seen in the Relative Strength Index (RSI) stands out. The RSI has registered lower peaks even as price rises, indicating buyers are losing some strength and the bullish momentum is fading. In technical analysis, this situation is known as bearish divergence and often suggests a short-term correction could be on the horizon.
Currently, the lower boundary of the ascending channel serves as Bitcoin’s primary support. As long as BTC holds above this level, the short-term positive structure remains intact. However, if the support zone around $77,000–$78,000 is breached to the downside, the correction could deepen and push prices first to $76,000 and then to the $74,000 mark.
Conversely, if the price can break above its recent local high at $79,000, this could trigger renewed upward momentum. In that case, attention may shift to the upper part of the channel, with the $80,000–$81,000 area emerging as the next significant resistance.
“While the structure of Bitcoin still points higher, the divergence in RSI highlights a loss of thrust behind the latest rally. For April’s uptrend to continue, the price either needs a strong move up or a decisive bounce off key support,” Ted Pillows emphasizes in his analysis.
Liquidity map signals $85,000 as a key level
Another critical signal is emerging from Bitcoin’s liquidity map. Based on Daan Crypto Trades’ interpretation of CoinGlass data, there is no significant liquidity wall above the current price until nearly the $85,000 level.
CoinGlass data shows that since the start of the year through late April, Bitcoin rebounded from the $60,000–$65,000 band to climb as high as the $78,000–$80,000 zone. Just above the current levels, however, the largest cluster of liquidity is clearly centered at $85,000. This region acts as a resistance formed by leveraged positions, potentially drawing price upward if buying pressure persists.
Below the current range, smaller pockets of liquidity—created by Bitcoin’s recent advances—are evident. But further down, another major liquidity pocket is concentrated around $65,000. This setup suggests that while there may be little resistance standing in the way of a move toward $85,000, the most substantial support zones are clustered around $65,000.
These liquidity maps offer significant clues about where Bitcoin could see heightened volatility and volume in the near term. However, the maps alone are not definitive; as leveraged positions increase, sudden price swings can become more frequent and intense.
