After a sharp drop that took us down toward $74,300, we’ve seen a strong rebound candle pushing price back above $76,800. What stands out to me is how fast sellers stepped in after the brief recovery — we’re now hovering right below the psychological $77,000–$77,700 zone (that pink area you marked).

This move feels like classic late-stage uncertainty. On one hand, buyers defended the lower zone decently, showing some resilience. On the other, the inability to push and hold above $77,000 tells us that sellers are still very much active. Many traders are probably sitting on the sidelines right now, waiting to see if this is just a dead cat bounce or the beginning of real accumulation.

The interesting part is the psychology. After the volatility we’ve seen, fear is high, every small bounce gets people hoping for a reversal, while every rejection reinforces the “we’re not out of the woods yet” narrative. Institutions and big players seem to be playing patient, absorbing supply around these levels rather than chasing aggressively.

Right now, the market is caught between hope and caution. If we manage to flip $77,000–$77,700 with conviction, it could quickly shift sentiment and bring back some bullish momentum. But if we fail here and roll over again, it might trigger more selling as weak hands get shaken out.

Personally, I think this is one of those moments where the next few hundred dollars will speak volumes about short-term direction. The structure is still messy, but the fact that we bounced from that lower area shows the market still has some fight left.
$BTC #BTC