Bitcoin: Rejection at $78,000 Signals Weakness

Bitcoin showed fast rejection at $78,000, marking clear weakness after initial bounce assumptions failed according to @CryptoMichNL.

Traders now eye $75,800-76,200 and $74,000 as prime accumulation zones if liquidation wicks extend like last week, aligning with current BTC price action near $77,554.45.

Price tests lower Bollinger support at $77,621.51 while EMA50 holds at $76,747.46 as concrete resistance-turned-support and EMA200 sits far below at $69,789.71; neutral RSI at 42.52 combined with MACD death cross at 424.64 signals short-term exhaustion before any continuation higher toward upper resistance at $80,558.47.