Bitcoin Tests $77,000 Support as Break Could End Short-Term Rally Structure

Bitcoin has entered a pullback within a short-term rising channel and is testing a key support level, according to market analysis.

Crypto analyst Ali Martinez wrote on X on April 26 that Bitcoin is trading within a rising channel on the four-hour chart. After being rejected at the channel’s upper boundary, it is retesting lower support near $77,000.

Martinez described $77,000 as a key support level that will determine the short-term trend. If buyers defend that line, the rising channel structure could remain intact.

If support holds, Bitcoin could first rebound toward the middle of the channel at about $81,500 and then toward the upper boundary near $84,500.

A clear break below $77,000, however, would undermine the short-term bullish structure and invalidate the optimistic scenario.