$BTC #HourlyTrade

The 1-hour chart shows a Bearish Engulfing pattern at a local peak

A smaller green candle was followed by a much larger red candle that "swallowed" the price action of the previous one. This indicates that sellers have aggressively taken control after a period of indecision.

Looking at the wicks above the recent candles, there is significant sell pressure/resistance near the $77,500 - $77,600 range. The price attempted to push higher but was rejected, resulting in the current red candle.