Bitcoin Price Holds Steady as Wave 4 Triangle Develops

Bitcoin is trading near $77,000 after a sharp rebound, but technical charts suggest that the rally may pause before its next major move.

A wave 4 triangle has developed according to More Crypto Online, with support around $76,000 preserving the short-term bullish setup.

If the price breaks below $76,000, it could weaken the triangle structure and shift attention to Fibonacci support at $75,169.

However, a sharp decline into the 63,000-70,000 range, followed by a reversal, would strengthen the comparison with the accumulation pattern that developed around the 2022 market bottom, according to Rod.