$BTC Analysis: $79k Resistance and the Ascending Momentum
Few days ago, $BTC recently saw a quick spike above $79,000, but the momentum was short-lived as the price retreated shortly after. This confirms that $79k is currently a key psychological and technical resistance level to clear.
Checking the 4H chart, the uptrend is still very solid. Price action is respecting a clear ascending channel, which is a great bullish sign. Even though the move was sharp, the structure is holding up well.
On the 1H timeframe, my RSI(6) is sitting at 52.87. After that push to $79k, this neutral RSI reading is actually a good thing.It shows the market is cooling off and consolidating rather than crashing. As long as we stay within this channel, the outlook remains positive.
Key Zones:
Resistance: $79,000 - $79,500
Support: The bottom of the 4H channel (around $76k).
I’m watching for a consolidation period here before the next attempt at the $80k milestone.
Are you waiting for a breakout or already in? Let’s discuss.