Bitcoin Plateaus Above $78K Amid Weakening Momentum

Bitcoin's explosive rally has lost some of its initial momentum after reaching the $80K region. The cryptocurrency is now hovering around $78,822, and both spot price action and futures activity show reduced conviction.

The daily chart for Bitcoin remains bullish, with the price above both major moving averages. However, the recent candles show hesitation beneath the major $80.5K-$82.5K supply zone, suggesting that buyers have not yet generated enough follow-through to force another decisive expansion.

The 4-hour timeframe provides a clearer indication of short-term momentum weakening. Bitcoin formed a rising channel beneath the $80K-$82K resistance area but has now broken below its lower boundary.

For buyers to regain short-term control, Bitcoin would need to reclaim the broken channel and push back through the $80K region. Until that occurs, the recent highs around $80K-$82K remain the primary resistance zone.