Bitcoin Rally Hitting Resistance at $77,050
Bitcoin's recent rally is running into resistance at around $77,050, causing the token to grind higher above $76,500. According to analysts at NewsBTC, a wall of sellers near this price level is keeping the recovery on a tight leash.
The token carved out a base above $76,000 and then pushed into a recovery wave that lifted it past $76,500. Buyers reclaimed the 50% Fibonacci retracement of the slide from the $78,100 swing high to the $74,209 low, with the price now sitting over the 100-hourly simple moving average.
A bearish trend line is still forming on the hourly chart, and clearing the $77,450 zone would be the first real signal that bulls have regained control. Below the market, support sits at $76,150, then $75,650. A deeper flush would expose the $75,000 floor, and the main line in the sand remains $74,200.
Momentum readings give bulls a modest edge for now, with the hourly MACD gaining pace in bullish territory, and the RSI for the BTC/USD pair holding above the 50 mark. Independent data backs this standoff, with forecast models projecting the price near $77,463 by Monday, while other estimates peg the trading band between roughly $76,950 and $77,770 over the next 10 days.