Bitcoin at Major Support — Is $77,200 the Next Move?
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Bitcoin is sitting inside the Support Zone ($73,720-$76,260), right where several important signals are starting to line up.
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$BTC is near the Long Liquidation area ($74,000-$74,800), while the Daily 100 SMA, Weekly 50 SMA, and multiple Support Lines are reinforcing the same zone.
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From an Elliott Wave perspective, I believe the five-wave bearish move may already be complete.
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The 1-hour chart has also formed a high-volume Hammer — another sign that buyers may be starting to react.
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If this support structure holds, I expect a short-term recovery toward $77,200 and the Short Liquidation area ($76,690-$77,520).
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The key levels for me are $77,000 and $78,000.
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For now, I favor a rebound — but I still want confirmation from price.
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What comes first?
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🟢 $77,200
🔴 Breakdown below the current Support Zone
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#bitcoin
⠀
Bitcoin is sitting inside the Support Zone ($73,720-$76,260), right where several important signals are starting to line up.
⠀
$BTC is near the Long Liquidation area ($74,000-$74,800), while the Daily 100 SMA, Weekly 50 SMA, and multiple Support Lines are reinforcing the same zone.
⠀
From an Elliott Wave perspective, I believe the five-wave bearish move may already be complete.
⠀
The 1-hour chart has also formed a high-volume Hammer — another sign that buyers may be starting to react.
⠀
If this support structure holds, I expect a short-term recovery toward $77,200 and the Short Liquidation area ($76,690-$77,520).
⠀
The key levels for me are $77,000 and $78,000.
⠀
For now, I favor a rebound — but I still want confirmation from price.
⠀
What comes first?
⠀
🟢 $77,200
🔴 Breakdown below the current Support Zone
⠀
#bitcoin
