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$BTC remains in a broadly bullish higher-timeframe structure but the market has shifted from expansion into consolidation
Price is currently around $77,851, sitting just above the SMA 28 at $77,389. The SMA 58 at $70,583 and SMA 128 at $68,957 remain well below price, keeping the broader trend structure constructive
The moving averages are still stacked bullishly, with the shorter averages above the longer ones
The bigger trend hasn’t broken. The question now is whether BTC can build enough momentum to push through the recent highs
After the strong recovery from the June–July lows, BTC pushed into the $82,000–$83,000 area in early September before losing momentum
Since then, price has been moving sideways, roughly between $76,000 and $82,500, with repeated rejection from the upper part of the range
The interesting part is where price is sitting now.
BTC is testing the rising SMA 28 around $77,389, while the broader ascending trendline is also approaching the same area
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