Bitcoin is trading near a key support area after failing to hold short-term resistance levels and major daily moving averages. According to technical analysis shared by Man of Bitcoin on X, Bitcoin traded near $77,337 after reversing from a local top zone on the one-hour chart, with the next critical move depending on whether BTC holds the $76,431–$74,943 support range or breaks lower toward the 2025 low near $74,500. The rejection from Fibonacci resistance levels near $77,655, $78,042, and $78,595 has shifted focus back to lower support areas. On the daily chart, analyst Super฿ro noted that Bitcoin sits around the 50-day EMA at $76,791 and 100-day EMA at $76,852, with the 200-day SMA positioned near $80,272 as a longer-term target if buyers maintain control.
Bitcoin Price Tests Support After Local Top Rejection
Bitcoin traded near $77,337 after reversing from a short-term local top zone on the one-hour chart. Man of Bitcoin identified this reversal point as an "ideal zone for a local top" and marked a support area between $76,431 and $74,943 for a possible 1-2 setup.
The chart shows Bitcoin losing momentum after reaching upper Fibonacci levels near $77,655, $78,042, and $78,595. The failure to hold that zone shifted attention back to lower support areas. At the time of the chart, Bitcoin traded around $77,330, still above the first marked support level.
The next key support area starts at $76,431, followed by deeper levels near $75,994, $75,558, and $74,943. A descending trendline crossing near the support zone adds structural weight to this area, as BTC is testing both Fibonacci support and trend structure simultaneously.
If Bitcoin holds the marked support range, the chart indicates room for another upside move toward the $81,000–$82,000 area first, with a higher level marked near $82,750. However, a clear move below $74,943 would weaken the short-term structure. In that scenario, the next visible downside level sits near $74,163, while broader lower support appears closer to the low $73,000s and $71,000s.
Bitcoin Price Tests Moving Averages on Daily Chart
Bitcoin traded near $76,569 on the daily chart, with analyst Super฿ro noting that BTC still has a setup that could push price toward the 200-day SMA. The chart shows Bitcoin sitting around the 50-day EMA at $76,791 and the 100-day EMA at $76,852, both close to the current price and making this area important for the next move.
Super฿ro identified the 200-day SMA near $80,272 as a potential target, with Bitcoin needing to recover above the short-term moving averages first before testing that higher level. The April high sits above price near the $79,500 area, representing two major upside tests if buyers regain control.
On the downside, the chart marks the monthly open near $76,569, close to where Bitcoin was trading. Below that, the Friday TradFi close sits around the $75,700–$75,800 zone. A previous swing low appears near the $75,000 area, with the 2025 low marked near $74,500.
Super฿ro highlighted that the weekly and monthly closes align on Sunday, which could set the tone for the final month of the second quarter.
