BTC Price Trend Analysis—How to Judge the $77,689 Bull-Bear Boundary?

As of April 23, Bitcoin’s current price is $77,689.10. It is down 0.54% over the past 24 hours, but up 4.05% over the past 7 days. Looking back at the previous day’s market, Bitcoin rebounded to around $79,000 before slipping somewhat afterward. It is currently ranging between $77,500 and $78,500.
From a technical structure perspective, $78,000 has been converted into the short-term bull-bear dividing line. If the price can stand firm at this level with rising volume, the next target will be the dense area around $80,000, the historical high. But if it fails to break through, the price may quickly retest platform support near $76,000. It is worth noting that this week’s rise was not driven purely by fundamentals; instead, it was largely the “short squeeze” effect triggered by ceasefire-related news. Large amounts of short-leveraged positions were forcibly liquidated, passively pushing the price higher. What ultimately determines the market’s direction requires further confirmation of macro liquidity and geopolitical factors.
Key short-term reference levels:
· Resistance overhead: $78,500 (previous high resistance), $80,000 (historical previous high)
· Support below: $76,200 (the rebound start point in mid-April), $74,500 (strong support level)
$BTC ‌
In terms of strategy, the current price is in a sensitive zone of bull-bear contention. It is recommended to wait for a daily close-level confirmation before entering. Chasing highs should be done with caution; if a pullback confirms support, you may consider building positions in batches.
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