From TradingView · · 50s
Bitcoin Rejection at 77,400 Favors Support
Bitcoin rejected 77,400 resistance, moving toward support zone.
In brief
Bitcoin rejected 77,400 resistance, moving toward support zone. Bitcoin broke below 77,400 resistance but held above 74,400 support as traders anticipated a potential move lower. Originally reported by TradingView.
Current BTCUSDT Setup
Bitcoin traded inside a range before breaking higher and shifting bullish, then entered a downward channel.
Resistance Rejection
Price rejected 77,400 resistance and moved back below the resistance zone while holding above 74,400 support.
Bearish Scenario
If BTCUSDT stays below 77,400 resistance and respects the downward channel, sellers may push price toward 74,400 support.
Price Action Update
Price gradually rose to retest 77,400 resistance as traders watched for buyer reaction.
Scenario Invalidated
Bitcoin broke out of the descending channel, invalidating the bearish scenario and changing the trend.
In short
Bitcoin broke below 77,400 resistance but held above 74,400 support as traders anticipated a potential move lower.
