Bitcoin (BTC) is testing a critical support zone between $74,968 and $77,253 as short-term weakness emerges. Analysts indicate that while the broader trend has not confirmed a top, a pullback remains possible within the current structure. Holding above $74,968 is crucial to maintaining the bullish setup, but a breakdown could lead to further downside.
Currently trading near $78,357, Bitcoin is down 1.27% over the past 24 hours. The 1-hour chart suggests no major price top has formed, though a pullback in wave (B) or wave (2) is anticipated. Analysts highlight that the lower boundary of the trend channel may provide additional support if selling pressure intensifies, but a fall below $74,968 could invalidate the bullish structure and trigger deeper losses.
Bitcoin Tests Key Support Zone Amid Potential Pullback
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