Bitcoin reached the resistance area and got rejected from the 38.2 Fibonacci retracement. But on the short term chart, a five wave advance from the April 29 low suggests the market is still trying to go higher. In this video I explain how to manage a bullish setup within a larger bearish pattern, show you the exact Fibonacci support zone to watch this week, and walk through the CME gap, the 21 week EMA, and the 2022 comparison.
As of Monday, May 4, 2026, Bitcoin (BTC) is trading around $78,975, having briefly surged past the $80,000 psychological barrier for the first time since January. This rally was primarily triggered by geopolitical de-escalation after the U.S. announced "Project Freedom" to escort commercial vessels through the Strait of Hormuz, which cooled oil-linked inflation fears.
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Bitcoin BTC Price News & Insights Today 4-5-2026 - Technical analysis of BTC, on market structure, key support and resistance zones. Video by More #Crypto Online.
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Bitcoin Insights Today
-Geopolitical Relief: President Trump’s response to Iran's 14-point peace proposal eased market tensions, causing Brent crude to drop and risk assets like BTC to climb.
-Institutional Inflows: Spot Bitcoin ETFs saw $2.44 billion in net inflows for April, the strongest performance since late 2025.
-Whale Activity: Large wallets (holding 1,000+ BTC) accumulated 270,000 BTC over the past 30 days, a level not seen in a decade.
-Short Squeeze: The push past $80,000 led to roughly $300 million in liquidations for bearish traders caught on the wrong side.
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