TREND 4H: Down (counter-trend)
Daily: Up
Weekly: Up
Fakeout Above Resistance
Yesterday's move above resistance was a clear fakeout, with price spiking into the level before sharply reversing - trapping late buyers at the highs.
$77,330 Now Key Resistance
Previous support has flipped into resistance, with price rejecting this zone- bulls now need a reclaim to regain control.
Lower Highs Show Short-Term Weakness
Failure below $79.5K and continued rejection keeps structure printing lower highs, maintaining downside pressure.
EMA Shift Adds Pressure
The 55/21 bearish cross supports the short-term downtrend, reinforcing current weakness.
Support Holding the Pullback
Price continues to find demand at the 100 EMA, preventing acceleration lower and keeping this move controlled.
In Summary
Bitcoin is currently in a short-term downtrend on the 4-hour chart, following a clear fakeout above resistance where price spiked higher before reversing sharply. The $77,330 level has now flipped back into resistance, with lower highs and bearish EMA positioning suggesting continued near-term weakness. However, this remains a counter-trend move within a broader bullish structure on higher timeframes. Support at the 100 EMA is holding, with a reclaim of resistance needed to resume the uptrend.
