$BTC Although trading within a notable resistance area on the daily chart shared by Super฿ro, the setup shows that the price is reacting to some long-term “magnetic” trendlines.
Shown on the left side of the chart are: $BTC It has recovered from the February lows and is moving towards the green 0.5 trend line. Price has already broken above the lower magnetic line and is currently located near the next major diagonal level.
$BTC Daily magnet line. sauce: super lo
The current area is marked as important on the chart. $BTC We have reached the same zone where the previous rise slowed down. Moving cleanly up this area will focus on the next magnet level, which includes the yellow 0.618 line and the higher red 0.75 line on the chart.
Shown on the right side of the chart are: $BTC After a strong recovery in April, it has remained within a gray range. This chart also highlights a bullish cross of the short moving average rising towards the long moving average.
If the price stays range-bound, this bullish cross will add technical support for a recovery. It would also indicate that near-term momentum is starting to shift beyond the broad moving average structure.
but, $BTC Still needs confirmation. If the price fails to break out of the gray range, the chart suggests that $BTC It may continue to move laterally before making another attempt at higher magnetic field lines.
$BTC Chart Splits Between Downward Roadmap and Bullish Alternatives, Price Faces Resistance at $79,537
$BTC According to the 1-hour paper, it is testing a key short-term resistance area around $79,537. $BTC/USD chart shared by Man of Bitcoin.
The chart labels the recent bull market as a three-wave structure. So analysts can stay focused on the white downhill roadmap. $BTC Rejecting below resistance before heading to a lower support level.
$BTC Elliott Wave Roadmap. sauce: bitcoin man
The main resistance level is near $79,537. Rejection from that area is $BTC Within the corrective setup, return the focus to the lower Fibonacci zone.
The chart marks downside levels near $72,936, $71,345, $69,785, and $67,626. A deeper move could bring the broader support around $64,974 back into view.
However, the chart also includes an orange alternative scenario. That path is valid as long as $BTC Stay above $77,115.
if $BTC If we break above that level and break through $79,537, another setup could point to higher resistance near the red zone above $86,000.
