Will Bitcoin price revisit $76K as bullish trendline support collapses?
The breakdown also pushed Bitcoin beneath its 20-day moving average around $79,375 while keeping the price trapped below the 200-day moving average near $80,825. Meanwhile, the 50-day moving average around $76,427 has emerged as the next major technical support. Daily candles are now compressing between declining short-term resistance and the rising 100-day moving average near $72,553. The MACD histogram on the daily chart has turned negative, while the MACD line itself is beginning to cross lower beneath the signal line. Earlier bullish momentum from Aprils recovery phase has faded steadily throughout May as buyers failed to produce a convincing breakout above resistance. Liquidation data from CoinGlass suggests Bitcoin may still be vulnerable to another sweep lower before stabilization occurs. The 24-hour liquidation heatmap shows dense long liquidation clusters sitting between $76,000 and $76,500, with another concentration near $74,000. Large liquidity pockets above the current price remain concentrated near $78,000 to $79,000, potentially acting as short-term magnets during relief bounces. Bitcoin liquidation heatmap | Source: CoinGlass Crypto trader Lennaert Snyder said Bitcoins daily candle had closed “pretty weak” after failing to reclaim the $78,200 highs. According to Snyder, the market remains trapped in a choppy mid-range structure, with a likely sweep of “sell-side liquidity at the