Bitcoin Sweeps Low, Enters Sideways Range Before Potential Breakout

Bitcoin has cleared its low of $77,375.63, marking a significant milestone in the current market cycle. According to trader Michaël van de Poppe, this sweep of the lows signals that Bitcoin is likely to enter an extended sideways range before any potential upside breakout.

The current price action suggests that altcoins are maintaining their strength against BTC, which contrasts with prior historical cycles where similar setups preceded rallies. This consolidation phase is now being factored into BTC price prediction models.

Looking at the 4-hour chart, the price of Bitcoin is trading within the Bollinger band near lower support at $77,191.87. The bearish MACD death cross at -148.24 and neutral RSI at 41.0 indicate limited further downside before any test of upper band resistance at $79,153.44.