
I’m inclined to retest 76,500 for Bitcoin—whether it can rebound depends on whether strong demand emerges during that retest. Yesterday’s daily candle showed a large volume bearish candle, pushing prices back below $80,000, confirming that the previous rally above $80,000 was a false breakout. We’re now back within the $76,500–$80,000 trading range, and the major bearish signal is fully established. On the 9-hour chart, a high-volume pinbar bullish candle appeared at 76,500, indicating some demand has entered here—but whether this demand is sustainable remains to be seen. The 4-hour chart also showed a volume-backed bullish pinbar at 76,500, but follow-through demand faded quickly; after a minor rebound, prices resumed their decline—this is the basis for my bias toward another downward test. On the 1-hour chart, demand remains weak after dropping to 76,500, with no volume on the pullback. The demand seen on the 4-hour and 9-hour charts stems from the massive volume bearish candle that preceded it; we cannot ignore the lack of subsequent buying support. If strong demand emerges upon retesting 76,500, a rebound is likely, potentially targeting the resistance zone of $79,500–$81,000. We’ll then assess price reaction and whether selling pressure surfaces there. #BTC
