Bitcoin Eyes Correction to $78,200 as Resistance Tests Overbought Levels

Bitcoin's price has reached a critical level near $81,315.9, sparking concerns of a possible correction to $79,000 or $78,200 for fresh bids.

According to CryptoMichNL, a test of recent peaks followed by consolidation and a leverage flush is expected to occur, which could lead to a healthy retracement to the EMA50 support at $78,030.8.

The RSI(14) has flashed overbought at 77.33, indicating that Bitcoin's price may be due for a correction.

However, the MACD golden cross at 1127.33 keeps the broader bullish structure intact, suggesting that any BTC price prediction models should remain cautious but not bearish.