Wedge compression
Price tightening into an ascending wedge, with higher lows pressing into flat resistance ā classic loss of momentum structure
Repeated rejection
Multiple failures around ~$79.4k with weaker follow-through each time ā buyers struggling to sustain control
Structure still intact (for now)
Higher lows still in place and price holding above key support ā no confirmed breakdown yet
Key support below
$73.8k remains the pivot, with several prior reactions ā likely magnet if structure fails
Momentum + behaviour
RSI bearish divergence + choppy price action near highs ā signs of distribution rather than clean continuation
Likely path
Break of the wedge support would shift momentum and open a move back toward the $73.8k zone
In Summary
Bitcoin is compressing into an ascending wedge beneath resistance, with multiple rejections near ~$79.4k and weakening follow-through on each push. While structure remains technically bullish with higher lows intact, momentum is fading, highlighted by RSI bearish divergence and choppy price action near highs. This suggests possible distribution rather than continuation. Key support sits at ~$73.8k, and a breakdown from the wedge would likely trigger a move back toward that level, making this a critical juncture.