Bitcoin is holding near $77,000 after a sharp rebound, but two technical charts suggest the rally may pause before its next major move. Support around $76,000 could preserve the short-term bullish setup, while a deeper pullback into 63,000-70,000 may precede a recovery toward 100,000-130,000.
Bitcoin Holds Near $77,000 as Wave 4 Triangle Develops
Bitcoin traded near $77,053 as it consolidated following its sharp wave 3 advance. More Crypto Online said the pullback likely represents a wave 4 correction that could be forming an A-B-C-D-E triangle.
The chart places support near $76,000 and upper resistance around $78,300. Bitcoin would need to break through the $78,848 to $79,191 range to strengthen the case for a fifth-wave advance above its recent high.
A break below $76,000 would weaken the triangle structure and shift attention to Fibonacci support at $75,169. The next downside levels stand at $72,560 and $70,518.
Bitcoin Chart Flags 63,000-70,000 as Key Support
Bitcoin traded near $77,235 as analyst Rod compared its current four-day structure with the accumulation pattern that developed around the 2022 market bottom. The chart identifies the 63,000-70,000 range as the main support zone.
Rod said a sharp decline into that area, followed by a reversal, would strengthen the bullish comparison. Bitcoin would then need to reclaim resistance near $82,000 to confirm renewed upward momentum.
The projected path points toward $100,000 before a possible advance to 120,000-130,000. However, a sustained break below the highlighted support zone would weaken the historical comparison and leave the recovery scenario unconfirmed.
