Bitcoin tested a major support zone near $76,500 that has repeatedly acted as an important reaction area on the 4H chart.
Price recently broke below this level, but the move has so far failed to produce strong continuation. Instead, BTC has started consolidating back around the zone, raising the possibility that the breakdown could develop into a false breakout.
If Bitcoin can hold above $76,500, the next important resistance areas are:
$79,300
$80,880
A decisive rejection from $76,500 or another sustained move below the support zone would weaken the bullish scenario and could expose BTC to further downside.
Given that the Clarity Act failed to pass the procedural vote and BTC did not fall more than 75000, then this is increasing the chances of BTC rising further.
You can find more details on the chart.
Thank you! 🍀
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