Bitcoin’s rally is stalling after a sharp rejection near the $78,000 resistance level, triggering fresh concerns about the sustainability of the uptrend. Analyst Kamile Uray confirms the activation of a 2-618 pattern, signaling a corrective phase.
Traders are now watching the $73,762 support level. A hold there could set up another bullish push toward $98,000 to $109,000. A break below opens the door to $70,165, with deeper supports at $65,666 and $60,000.
A daily close below $60,000 would be a highly bearish signal, potentially marking the start of a major decline.
Analyst Daan Crypto Trades notes the low $80,000s remain a pivotal zone for bulls. The $72,000 level, formerly resistance, has flipped to critical support. If Bitcoin stays above this level, the market could build a base for further gains. A breakdown below $72,000 would signal fading momentum and more sideways price action.
Bitcoin is currently trading at $76,038.
