Bitcoin (BTC) is grinding higher above $76,500, but a wall of sellers near $77,000 keeps the recovery on a tight leash.
Bitcoin Recovery Builds Above $76,500
The token carved out a base above $76,000 and then pushed into a recovery wave that lifted it past $76,500, with analysts at NewsBTC tracking the move.
Buyers reclaimed the 50% Fibonacci retracement of the slide from the $78,100 swing high to the $74,209 low.
Above that, the price now sits over the 100-hourly simple moving average.
A bearish trend line is still forming on the hourly chart, with resistance pinned at $77,050. Clearing the $77,450 zone would be the first real signal that bulls have regained control.
Below the market, support sits at $76,150, then $75,650. A deeper flush would expose the $75,000 floor, and the main line in the sand remains $74,200.
Also Read: Bitcoin Derivatives Lean Bearish As Traders Hedge Below $78K
BTC Indicators Show Cautious Optimism
Momentum readings give bulls a modest edge for now. The hourly MACD is gaining pace in bullish territory, and the RSI for the BTC/USD pair holds above the 50 mark.
Independent data backs the standoff. Forecast models project the price near $77,463 by Monday, while other estimates peg the trading band between roughly $76,950 and $77,770 over the next 10 days, levels that sit right under the contested resistance.
The picture matters because the next move is unusually binary. A daily close above $78,000 could open a path toward $79,000 and, eventually, the $81,500 region, while a rejection near $77,450 risks another leg down.
Bitcoin Price Swings Through May
The current squeeze caps a choppy stretch for the largest cryptocurrency. Earlier in May, a flash crash dragged Bitcoin under $77,000 and triggered roughly $657 million in liquidations across the market.
Since then the token has spent weeks trapped between long-term moving averages, with six straight days of US spot ETF outflows totaling $1.26 billion adding pressure. That backdrop explains why traders treat every approach to $77,000 with caution rather than conviction.
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