- Bitcoin bounced from $74.4K and closed the week at $80,147 with a 2.24 percent gain.
- Chart signals from OBV and RSI show bullish divergence as sellers weaken and buyers gain.
- Weekly support zones from early 2024 are now acting as key levels for Bitcoin’s current price action.
Bitcoin has held above $80,147 after bouncing from $74.4K, which now emerges as a significant technical support on the weekly chart.A recent chart by Cantonese_Cat shows BTC trading between $74,458 and $83,506, closing the week up 2.24% at $80,147. The level of $74.4K aligns with a former resistance zone, now acting as support. Price action suggests a possible retest may have already occurred.
Although #Bitcoin weekly shows that there’s always a chance to go down lower to grab liquidity and back-test a previous zone of resistance, I have reasons to believe that it may not happen, and that 74.4K was an important local bottom. pic.twitter.com/ZiP09uF263
— Cantonese Cat 🐱🐈 (@cantonmeow) April 11, 2025
Additionally, the upward wick and strong candle body reflect renewed demand from lower levels. This development follows weeks of declines after Bitcoin peaked above $100K earlier in 2025. Consequently, analysts are now evaluating the sustainability of this bounce.
74.4K Level Viewed as Local Bottom by Analysts
The user noted that $74.4K may have marked an important local bottom based on the current weekly structure.According to the chart, this zone overlaps with prior resistance from 2024 and has been tested during the recent dip. The strong candle recovery supports the possibility that bulls defended the level. Furthermore, this level lies near major liquidity zones on higher time frames.
Besides, the price has stayed within a broader range, defined by support near $73K and resistance just above $83K. This structure reflects the consolidation pattern formed in early 2024. Hence, continuation depends on how price behaves around these defined zones.
Moreover, the failure to break below $74.4K may lead to renewed accumulation and potential upward movement. The zone has also seen repeated interaction in past consolidation phases. As a result, analysts consider it a reliable reference point for market watchers.
Bullish Divergences Detected on Daily Indicators
In a follow-up post, Cantonese_Cat reported bullish divergences in the On-Balance Volume (OBV) and Relative Strength Index (RSI).These technical signals suggest weakening bearish momentum and increasing buyer strength at current levels. OBV indicates accumulation as it trends upward while price drops. RSI divergence further supports the case for reduced selling pressure.
Hence, both indicators now align with a possible shift in short-term trend direction. The combination of weekly structure and daily divergences may attract further attention. Significantly, these signals are emerging around a historically reactive price zone.
Additionally, these signals may guide traders’ strategies as volatility remains elevated. Price confirmation above key resistances could strengthen bullish conviction. Until then, traders watch closely how Bitcoin interacts with the $80K threshold.
Will Bitcoin Confirm 74.4K as a Market Turning Point?
With BTC holding steady above $80K, analysts now ask a crucial question. Can Bitcoin sustain this rebound and validate $74.4K as a confirmed weekly bottom?
The answer depends on future weekly closes and whether support holds against increased volatility. Momentum indicators are now aligning with the structure. If price breaks above $83K, upward continuation may follow in coming sessions.
