- Bitcoin drops below $77,000 psychological support — down 3.1% from $79,500 intraday peak per WatcherGuru
- Continuous red candles with zero consolidation — structure consistent with panic selling or cascading liquidations
- Next key support zone: $75,000–$76,000; reclaim of $77,000 needed to neutralize bearish momentum
Bitcoin has broken below the $77,000 psychological support level — a sharp, uninterrupted reversal from an intraday peak of approximately $79,500, according to WatcherGuru.
At the time of writing, Bitcoin is trading at approximately $77,076 — down 0.85% over the past 24 hours, with a market capitalization of approximately $1.548 trillion and 24-hour volume of $31.77 billion.
The move represents a drop of roughly $2,500 (-3.1%) from the session high. Notably, the intraday chart shows no consolidation during the decline — a sequence of continuous red candles with no meaningful bounce, a structure consistent with panic selling or cascading liquidations rather than an orderly pullback.
Bitcoin intraday chart — sharp reversal from $79,500 to sub-$77,000 | Source: @WatcherGuru (X)
What the Chart Shows
The intraday structure is a textbook sharp reversal: an aggressive rally to $79,500 followed by an equally aggressive sell-off, with price printing new lows at the bottom of the chart. The $77,000 level had served as a psychological support floor; its loss opens a potential test of the $75,000–$76,000 zone as the next area of interest.
The absence of bounce candles during the drop is the key concern for near-term bulls. Stabilization and a confirmed support structure are required before the short-term bias shifts.
This move comes amid rising macro pressure — Fed rate hike odds surged to 64% following hotter-than-expected PPI data, adding headwinds to risk assets including Bitcoin. Notably, Bitcoin’s correlation with gold has risen to near a six-year high of +0.50, while its Nasdaq linkage has dropped to a one-year low — a regime shift worth monitoring as macro conditions evolve.
Key Levels to Watch
- $77,000 — psychological support, now broken
- $75,000–$76,000 — next support zone per intraday structure
- $79,500 — session high; reclaim required to neutralize bearish momentum
Watch $75,000 as the level that, if lost, opens a deeper retest of the broader range floor. Reclaim of $77,000 on a sustained basis is the minimum requirement to stabilize near-term structure.
Frequently Asked Questions
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Source: WatcherGuru · Published by CoinsProbe Markets Desk
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