Bitcoin is trading around $75,993, rebounding after coming very close to the psychological level of $75,000, which also coincides with the 4/8 Murray level.

Bitcoin could find strong support around $75,000, or, if downward pressure prevails, it could be expected to reach $74,200, which could be considered the lower band of the downtrend channel. However, we believe that Bitcoin has found strong support, and any pullback in the coming days could be viewed as a buying opportunity.

A Bitcoin recovery is likely in the coming days, and we believe it could return to $78,125 and eventually reach the 200-day exponential moving average (EMA), around $80,228.

US employment data will be released in the coming hours, which could also affect the volatility of cryptocurrencies such as Bitcoin. If there is a sharp drop toward $75,000 followed by a rebound around this level, it will be considered a buying opportunity.

Conversely, if there is a sharp move toward the 21-day simple moving average (SMA) or the Murray 5/8 line and the price struggles to break above this zone, we believe this could be interpreted as a negative signal, and Bitcoin could resume its downtrend and trade below $78,125.

The Eagle indicator is approaching oversold levels, and we believe Bitcoin could rebound in the coming days; therefore, as long as the price remains above the psychological level of $75,000, any pullback will be viewed as a buying opportunity.