Bitcoin Market Analysis on April 9, 2025

Bollinger Bands Indicator: From the hourly chart, the Bollinger Bands are opening downwards. The current corresponding range is between 80529-75186, with the middle line trending downwards to a price of 77859. Currently, Bitcoin has broken below the middle line of the Bollinger Bands, forming a unilateral downtrend. Moving Average Indicators: The 5-day moving average and the 10-day moving average at 30, 60, and 120 are arranged downwards. The closing price of the 5-day moving average is 76226, and the closing price of the 10-day moving average is 76665. The market is entering a unilateral downtrend, with support at 76226 below. MACD fast and slow lines cross and form a death cross downwards. The market is entering a down phase, increasing bearish momentum.

The RSI indicator crosses and forms a death cross downwards, with corresponding values of 1-2 in an oversold state.

From the price fluctuation perspective, Bitcoin's low point in yesterday's drop was at 77482, with a second low of 79861 showing a rebound. The rebound rose to 81172, then declined to 78831, maintaining between 81201-80852.

There is a price resistance at 80797 above, and support at 74552 below. Currently, from the 15-minute K-line chart, the market is entering a downtrend.