Bitcoin: $77,200 Zone Key After High Tapped

Michaël van de Poppe notes Bitcoin has tapped its high, leaving the market at a pivotal juncture where it must either establish a higher low or risk cascading toward the $75,000 region. The trader flags the $77,200-77,500 zone as the level that needs to hold, warning that a loss there returns price action to bidding into the $75,000 lows, while a decisive break of $78,900 would likely trigger rapid upside continuation.

Price currently sits at $78,164 inside the Bollinger Bands with upper resistance at $78,611 and lower support at $76,920. The bearish structure remains intact as price trades below both the EMA50 at $79,158 and EMA200 at $81,106, yet the MACD golden cross at -327.55 signals building momentum. With RSI neutral at 46.63, a rejection from the upper band could target the EMA50 confluence before any sustained advance, while failure to defend $77,200 would expose the lower band and the deeper $75,000 sweep zone.