Bitcoin's Price Plunges Toward Crucial Support Zone

Bitcoin's price has been slipping back toward the lower boundary of its recent structure after failing to sustain rallies above the $80K-$82K supply area.

The $76K-$77K region is now the first important support area, and holding it could allow BTC to continue consolidating beneath the $80K-$82K resistance zone before another breakout attempt.

A decisive daily breakdown below $76K would make a deeper correction increasingly likely, with the $72K-$74K former resistance zone representing the next major support.

The 4-hour chart shows Bitcoin trading inside a broad ascending channel since the initial surge, but price action has weakened considerably after the most recent rejection from the channel's upper region and the $80K-$82K resistance zone.