Bitcoin’s hourly chart is trending sideways to upward. The short-term price has touched above 76,500 and is approaching the previous dense trading area, where selling pressure is gradually starting to show.


Although the moving averages are still aligned in a bullish order, upward momentum is slowing and volume has not expanded in sync, casting doubt on the rebound’s staying power. The short-term resistance zone above is 76,900–77,300, and the lack of strength to push higher makes it likely to face selling pressure and pull back.
Suggestion: Take a light short position in the 76,900–77,300 range. Targets are at 75,000–73,500. #BTC
BTC0.22%
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