Bitcoin: Monthly Open Retest Draws Trader Focus

BTC continues to chop near $76,756.39 with higher-timeframe trend and monthly open acting as key inflection points on retests, consistent with Bitcoin monthly open significance technical analysis over the past year.

On the 4H chart, price sits inside the Bollinger bands with upper resistance at $78,608.07 and lower support at $75,978.77; the bearish structure below EMA50 at $78,424.83 and EMA200 at $77,353.14 pairs with neutral RSI at 39.25 while MACD at -641.36 flashes a golden cross, pointing to building downside pressure that stays unconfirmed until the monthly open breaks.