Bitcoin has retreated to $76.8k, breaking below the $80k level that marked last week's highs. The cryptocurrency's short-term bullish trendline has been breached, pulling the price back into the mid-range of its ascending channel on the daily chart. The critical support zone at $75k is now under scrutiny, with the 100-day moving average providing a potential floor at $72k. On the 4-hour chart, Bitcoin's RSI has dropped below 35, indicating oversold conditions. A rebound from the $75k–$76k support zone, coupled with a bullish RSI divergence, could signal a recovery towards $80k. However, failure to hold this level may lead to a decline towards the $70k–$72k range, aligning with the channel's lower boundary. On-chain metrics show the Adjusted SOPR has crossed above 1.0, suggesting a shift from loss to profit realization. Maintaining the $75k support is crucial to keep this recovery narrative intact, as a drop below could signal renewed selling pressure.