Bitcoin: $77,000 Rejection Sparks Month-End Rebalancing

Bitcoin rejected the $77,000 area and accelerated downward momentum into month-end asset manager rebalancing, with altcoin markets absorbing the harshest correction.

Price currently sits at $73381.54 inside the Bollinger Bands, testing the lower band support at $73115.54 while the upper resistance stands at $78752.22. The EMA50 at $76351.66 and EMA200 at $77117.26 now act as concrete resistance layers in the prevailing bearish structure.

RSI(14) at 26.45 flashes oversold conditions on the 4h chart while MACD(12,26) prints -827.49 and confirms the death cross, creating confluence that favors a relief bounce toward the EMA50 before any extension lower. This setup aligns with standard BTC price prediction models that anticipate deeper tests toward the $60,000 region only on a decisive break of the current support zone.