Bitcoin rocketed $1,400 higher in just 60 minutes, peaking at $77,700 and wiping out $115 million in short positions, per Bull Theory's latest alert.

These rapid surges echo last year's patterns where BTC liquidations fueled momentum, much like the Bitcoin historical price surges tied to efficient swaps and derivation schemes that amplified gains for traders navigating volatile swings.

Zooming into the 4-hour chart, Bitcoin presses against upper Bollinger resistance at $77,207.65, with RSI at 62.62 signaling neutral territory but leaning bullish amid a MACD golden cross at 336.15 confirming upward strength. Price holds firm above the EMA50 support of $74,993.21 and EMA200 at $72,213.36, setting up confluence for a potential pullback to that 50-EMA level before resuming the grind higher, especially as volatility exhausts near the upper band while lower support at $73,996.46 guards against deeper dips in this entrenched bullish structure.