Bitcoin is trading near a key short-term zone as analysts track both wave support and CME gap levels. The charts show $BTC stuck below stronger resistance, while $76,527 remains the main level that could decide whether the current recovery setup survives.
Bitcoin Price Faces Key $76,527 Support as $BTC Tests Short Term Wave Setup
Bitcoin is trying to hold support near the $79,000 area, but the chart shared by More Crypto Online shows that $BTC may still face more downside before a clear wave (2) bottom forms.
The BTCUSD 15-minute chart places Bitcoin around $79,052. Price has already moved below the nearby support zone after failing to hold the upper range near $82,000. This weakness keeps the short-term structure under pressure.
Bitcoin Short Term Wave Setup. Source: More Crypto Online on X
More Crypto Online said he is “not confident” that wave (2) has bottomed yet. As a result, the blue scenario on the chart still points to possible further downside in the coming sessions.
The most important level is $76,527. This level marks the 78.6% Fibonacci retracement and acts as key support for the 1-2 setup to the upside. If $BTC holds above this zone, the bullish wave count can remain active.
However, a clean break below $76,527 would weaken that upside setup. It would suggest that the correction is deeper than expected and could delay any short-term recovery attempt.
The chart also marks other Fibonacci levels at $78,762 and $77,832. Bitcoin is now trading near the 50% retracement area, while the 61.8% level sits lower at $77,832. These levels may act as short-term reaction zones before price reaches the deeper support area.
For now, Bitcoin needs to reclaim the broken support near $79,000 to reduce short-term pressure. Until that happens, the chart keeps the downside path open, with $76,527 as the main level that decides whether the current 1-2 upside structure stays valid.
Bitcoin Price Chops Between CME Gaps as Moving Averages Catch Up
Bitcoin is moving sideways between two CME gap zones, according to the chart shared by Super฿ro. The $BTC chart shows price near $79,600 after several daily candles failed to break clearly above the next resistance area.
The chart marks CME gap 1 near the current price zone around $78,000 to $79,000. Bitcoin is trading close to this area while the 20-day moving average also sits nearby. This keeps the short-term structure in a holding range.
Bitcoin CME Gap and Moving Average Setup․ Source: Super฿ro on X
Higher on the chart, CME gap 2 sits near the $84,000 to $85,000 area. A move toward that zone would require $BTC to clear the recent range highs near $82,000 first. Until then, the upper gap remains the next major upside target.
The chart also shows two possible gap 3 areas. One sits much higher near $95,000 to $98,000, while another sits lower near $67,000 to $70,000. Super฿ro said the longer $BTC keeps chopping sideways, the more the moving averages catch up. That could reduce the chance of Bitcoin filling the lower gaps.
The moving averages now matter because they are moving closer to price. The 20-day moving average is near $78,816, while the 100-day moving average is around $77,427. If $BTC holds above these levels, the market can keep its short-term recovery structure.
However, a break below the moving average cluster could bring the lower gap area back into focus. For now, Bitcoin remains stuck between CME gaps 1 and 2, with no clear breakout yet.
