Bitcoin: Drops Below $78K After Local High Rejection

Bitcoin broke back below $78K after rejection near recent local range highs, with BTC options positioning volatility skew history exposing underlying sentiment shifts.

Price action on the 4h chart shows Bitcoin testing upper Bollinger resistance at $78283.27 before the pullback, while RSI at 54.59 stays neutral and MACD golden cross at -32.06 keeps the bullish structure intact around EMA50 support of $77237.34.