Bitcoin is trading around $78.8K on the 4H chart and is currently above all four EMAs. 9 EMA: $78.38K 20 EMA: $78.23K 50 EMA: $78.66K 200 EMA: $69.07K The bigger picture is still constructive. BTC has held above the 200 EMA following the move from $64K, while the 9 and 20 EMAs are now tightly clustered around price. That tells me the market is compressing. The next move matters. $78.2K–$78.4K is the first area I want to see hold. Above $80K and the structure starts looking much stronger. Lose the short-term EMAs and I’d expect another test of lower support. For now, BTC is coiling beneath $80K. The breakout from this range should tell us a lot about what comes next.