Bitcoin Battling To Maintain Breakout
BTC is enjoying the best weekly set up in years, and bears are desperately trying to keep the price below major liquidation levels.
Bitcoin & Markets | Apr 27, 2026
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There is a battle going on in the bitcoin market today. After the futures market opened last night, there was some significant back and forth. It looked like things had calmed down around midnight above $79k, but shorts came in and hammered the price down. Then, throughout the early morning hours, it looked as though longs might once again be able to push the price higher, when shorts came in again and hammered the price.
This shorts are desperate to keep price under the major liquidation level of $80-81k.
Funding Rates Remain Extreme
Funding rates remain a major signal of volatility. They are currently hitting 3 standard deviations below the mean during a period of rising prices. This is highly unusual behavior. The only other comparable instance in recent years was during the FTX collapse, but that episode was short-lived.
Bitcoin Weekly RSI and MACD
This breakout is unlike the one in January. It is the best setup bitcoin has had on the weekly chart in years. Price has pushed above the 20-week MA, RSI crossed bullish out of March's oversold conditions, and MACD has finally turned bullish.
Potential Price Movement
I looked at similar moves in the post-ETF environment, to predict what price might do if this is a true breakout of the 20-week MA. They range from 38% to 160%. I would discount the 38% move, as it came when the bull market was running out of momentum. This setup is more in line with the post-FTX breakout of 66%, which would place price just above the previous ATH at around ~$130k.
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