CryptoWorld News reports that, according to CryptoNews, after Bitcoin’s price broke above $79,000 on Wednesday, it pulled back to $78,000 as investors began taking profits. However, derivatives data suggests the asset may be building momentum and preparing for another upswing. On Wednesday, Bitcoin rose nearly 6%, reaching a 12-week high of $79,388, but quickly slid back to $77,593 early Thursday morning. Even so, after more than $90 million in short liquidations, Bitcoin rebounded to above $78,000. Data indicates that if Bitcoin can regain stability, push again toward $80,000, and hold that level, the rally could extend into the major resistance zone at $85,000. Conversely, if it fails to maintain this level, the price could fall to the support level at $77,000.