Bitcoin Stuck Between a Floor and a Ceiling

Bitcoin's price action has been volatile in recent sessions, with the cryptocurrency struggling to break above $76K but refusing to dip below a crucial support level.

The latest session saw Bitcoin drop to $76,370 before rebounding sharply to nearly $78,329, only to retreat back towards $77,800.

On the 1-Hour chart, the V-shaped recovery is evident, with higher lows and higher highs forming after the session bottom.

The key area of resistance now sits around $77,400-$77,700, where buyers will need to hold their footing for another attempt at breaking above $78,300-$78,400 and eventually targeting $79K-$79,500.