BTC is trading inside a critical reaction zone after experiencing heavy bearish momentum from the recent highs. The market is now attempting to stabilize above the flipped support area near 78.4K, where previous resistance is acting as a defensive demand zone. Multiple rejections from lower levels suggest buyers are trying to absorb selling pressure.
Price remains under key resistance at 79.3K, keeping the short-term structure cautious. However, consolidation above support often signals accumulation before a potential recovery move. If BTC maintains strength above the demand zone, bullish momentum could build toward TP1, with further continuation possible toward the 80.6K resistance area.
On the downside, failure to hold the 77.4K support would invalidate the recovery setup and could trigger another impulsive selloff. Volume activity and recent volatility indicate the market is approaching a decisive move, making this zone important for short-term direction confirmation.
Price remains under key resistance at 79.3K, keeping the short-term structure cautious. However, consolidation above support often signals accumulation before a potential recovery move. If BTC maintains strength above the demand zone, bullish momentum could build toward TP1, with further continuation possible toward the 80.6K resistance area.
On the downside, failure to hold the 77.4K support would invalidate the recovery setup and could trigger another impulsive selloff. Volume activity and recent volatility indicate the market is approaching a decisive move, making this zone important for short-term direction confirmation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.