"If $79,000 is broken, it's game over"...Bitcoin, the signal for a direct shot to $100,000 has ignited.

▲ Bitcoin (BTC)/AI generated image

Bitcoin (BTC) has started an unstoppable rebound rally towards the $100,000 era, aiming directly at the $79,000 resistance line.

According to crypto media outlet NewsBTC on April 20 (local time), Bitcoin, which recently experienced a sharp decline, confirmed strong support at key price levels. Analysts note that bulls are returning to the market and attempting to break through $79,000. This rebound is interpreted as an important signal indicating a recovery in investor sentiment.

Analyst Kamile Uray analyzed that defending Bitcoin's short-term low of $73,371 is key. If the 4-hour candle closes below this price, further correction to $68,720 could occur. $68,720 is the 61.8% Fibonacci retracement line of the recent uptrend. However, if it stably closes above $79,000, it could quickly reach a large resistance zone between $98,000 and $109,000.

From a daily chart perspective, $65,666 acts as an important pivot point. As long as Bitcoin remains above this price level, the market structure remains favorable for an uptrend. If $65,666 is not maintained, support will be tested at $63,823 and $62,433. In particular, if $60,000 collapses, there is a risk of a significantly prolonged correction period.

Analyst Michiel van de Poppe evaluated that Monday's strong rebound proved Bitcoin's unique resilience. Even as traditional asset markets contracted due to geopolitical conflicts, Bitcoin showed an independent upward trend. Currently, there is an unfilled price gap in the CME futures market around $77,300. Investors expect Bitcoin to surpass this price level and reach new highs this week.

Active capital inflows from institutional investors are firmly preventing downward pressure on Bitcoin. Recently, a total of $1.4 billion has flowed into virtual asset ETFs, including Bitcoin spot ETFs. Large-scale capital inflows support confidence in Bitcoin's long-term value appreciation. The recapture of the $79,000 resistance line is expected to be a critical turning point that will determine Bitcoin's new price indicators in the future.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*