BULLISH 📈 : Bitcoin trades above $75,500, targets breakout above $77,350 resistance zone
Bitcoin rebounds above $75K and consolidates below $77.35K. A close over $77.5K could open $78K–$80K.
The move comes after reclaiming the 61.8% Fib of the drop from $78,344 to $73,637. Bitcoin now trades above $75,500 and the 100-hour SMA.
Bulls watch a rising channel with resistance at $77,350. A daily close above that range points to $78,000 first, then $78,500. The next barrier is $80,000.
Failure at $77,350 risks a pullback. First supports sit near $76,000 and $75,650. Deeper bids show at $75,400 and $74,250. Main support stands at $73,200.
Key levels:
- Immediate resistance at $77,250 and the 76.4% Fib
- Channel resistance at $77,350
- Targets at $78,000 and $78,500
- Major barrier at $80,000
- Supports at $76,000, $75,650, $75,400, $74,250, $73,200
Momentum screen:
- MACD turns higher
- RSI holds above 50
Sources: NewsBTC analysis on the prior downward move, NewsBTC note on 100-hour SMA context.