Bitcoin Holds April Uptrend as Investors Eye Possible US$85,000 Test  

Key Takeaways 

• Bitcoin has climbed from the US$68,000 area earlier in April to the high US$70,000s, holding inside a rising channel with key support at US$77,000 to US$78,000 

• RSI is showing bearish divergence: price making higher highs while RSI makes lower highs, a signal buying momentum may be weakening 

• A liquidation heatmap shared by Daan Crypto Trades points to a thick cluster of liquidity around US$85,000, the next major upside zone 

• If support fails, the next significant downside liquidity pocket sits closer to US$65,000 

Bitcoin has continued to hold its April recovery trend, but momentum indicators suggest the move may be starting to lose some strength. 

After climbing from the US$68,000 area earlier in the month, Bitcoin has recently been trading in the US$77,000 to US$79,000 range. The broader short-term structure remains constructive, with price action still sitting inside a rising channel marked by higher highs and higher lows. 

However, the latest charts point to a more cautious setup beneath the surface. 

The Channel and the Key Support Zone 

On the 4-hour chart, Bitcoin remains within its upward channel, meaning the short-term trend has not yet broken. The lower trendline, sitting around the US$77,000 to US$78,000 area, is now the key level traders are watching. 

The concern is coming from the Relative Strength Index, or RSI. While Bitcoin’s price has continued to push higher, RSI has been making lower highs. This creates what traders call bearish divergence: a signal that buying momentum may be weakening even while price continues to rise. 

That does not necessarily mean a reversal is confirmed. Bitcoin’s structure remains upward while it holds channel support. But it does suggest the current rally may need a stronger breakout or a clean bounce from support to keep momentum intact. 

If Bitcoin loses the US$77,000 to US$78,000 support zone, traders may start looking toward US$76,000 and US$74,000 as the next downside areas. On the other hand, a move back above recent local highs near US$79,000 could ease some pressure and bring the US$80,000 to US$81,000 resistance zone back into focus. 

Why US$85,000 Is on the Radar 

Liquidation data is also drawing attention to the US$85,000 level. 

According to a Bitcoin liquidation heatmap shared by Daan Crypto Trades, there appears to be limited major liquidity above the current price until around US$85,000. This level stands out as a major upside zone, with a thicker cluster of liquidation levels visible on the chart. 

In crypto markets, large liquidation clusters can act like magnets, as price often moves toward areas where leveraged positions are likely to be forced out. 

Below the current range, liquidation levels appear more spread out, with the next larger downside liquidity pocket closer to the US$65,000 region. That does not mean Bitcoin must move higher, but it does suggest the cleaner liquidity target currently sits above the market rather than immediately below it. 

What It Means for Crypto Investors 

Bitcoin’s short-term setup is balanced between a still-intact uptrend and weakening momentum. 

The April recovery remains valid while BTC holds its rising channel, particularly the US$77,000 to US$78,000 support area. A strong bounce from there could keep the move toward US$80,000, US$81,000 and potentially US$85,000 in play. 

However, the RSI divergence is a warning sign. It suggests buyers may be losing force, which increases the risk of a sharper pullback if support fails. 

For now, Bitcoin has not confirmed a trend reversal. But the next few sessions may be important in determining whether the April rally has enough strength to continue, or whether the market needs to reset before attempting a larger move higher. For Australian investors holding or accumulating Bitcoin through Ainslie Crypto, the current setup is one to watch rather than chase. 

This article is general information only and does not constitute financial advice. Past performance is not indicative of future results. Always conduct your own research or consult a licensed financial adviser before making investment decisions.