I just checked the BTC chart and something interesting is happening. Bitcoin is trading around $77,800 after that rejection at $70,000 a few weeks ago. Looking at the chart, the price finally managed to break through that psychological resistance that was keeping it trapped. The movements on the three-day chart remain complicated, but the selling pressure we saw earlier seems to be decreasing.

What catches my attention is that although we had that bearish crossover on the long-term chart (the 50-day moving average crossed below the 200-day ), the price is consistently finding buyers. The hourly RSI shows recovery, and the Bollinger Bands are expanding, suggesting there’s movement ahead. The spot ETFs in the U.S. continued to receive capital during the dips, so institutional demand has not disappeared.

Historically, when Bitcoin accumulates five consecutive monthly declines as it did before, that has marked turning points. In 2018-2019, something similar happened, followed by a 300% rebound in the following months. I’m not saying it will happen the same now, but the context is interesting. The chart analysis suggests that if Bitcoin holds above $76,000, we could be seeing the start of something stronger. If it drops below $65,000, then we would need to reassess the entire scenario. For now, the BTC chart looks more bullish than it did recently.