Bitcoin has rebounded more than 15 percent from its early April low and climbed to around $74,000, but signals are also emerging that upside momentum is weakening in a major resistance area.

On April 14, BeInCrypto reported that Bitcoin is testing direction at a point where the upper band of its rising channel overlaps with a $74,000 to $76,000 supply zone.

Bitcoin slid to around $64,000 in early April and then rebounded quickly. Expectations for a trend reversal have resurfaced in the market, but whether further gains can continue has emerged as a key variable as the price re-enters an area that previously acted as resistance. On a daily chart basis, it has raised its lows within a rising parallel channel since a low near $62,000 in February, and it is now close to the top of that channel.

The key is whether it breaks above $76,000. If this level is clearly exceeded on a daily close, the next resistance is suggested at $85,000 to $87,000. If it is pushed back from the current area, the $64,000 to $66,000 zone, a major support area below, could be tested again. The current price area was presented as a “critical decision point” where rising-channel resistance overlaps with a horizontal supply zone.

The short-term trend has not fully broken yet. On a four-hour chart basis, Bitcoin has continued a structure of higher highs and higher lows since a low on March 27. After it moved above the previous high of $72,000, that area has turned into support. Momentum indicators, however, are sending different signals.

The most notable point is the relative strength index (RSI). While prices made consecutively higher highs, the RSI posted lower highs, forming a “triple bearish divergence.” This was presented as a typical signal that appears when buying pressure is exhausted. Trading volume also declined throughout the rebound, confirming that participation strength has weakened.

Volatility indicators also added warning signals. The Bollinger Band Width Percentile (BBWP) has risen to extreme levels compared with the past, and such conditions often appear ahead of volatility contraction and short-term price adjustments, it said. The price rise continued, but the force supporting it is weakening.

As a result, scenarios the market is watching narrow to two. The bullish scenario is a daily close around $76,000 accompanied by rising volume. In that case, the divergence signal would be invalidated and a “meaningful breakout” toward the $85,000 to $87,000 zone would become possible. If it fails to hold $76,000 and returns to the range, the bullish scenario would lose strength.

The bearish scenario is a rejection at the current resistance zone followed by a pullback to $72,000. If that support also fails, the possibility opens of retesting the $69,000 to $70,000 area. Even in that case, a break above $76,000 and a hold would invalidate it.

Ultimately, Bitcoin has entered an area where resistance-breakout attempts and signs of upside fatigue are colliding after a sharp rebound. In the short term, whether it clears $76,000, a recovery in volume and the ability to hold support at $72,000 are expected to be key criteria that will determine the next direction.