Crypto Brief: Bitcoin Price Takes a $3,215 Ride Just to Land Back at $77K

According to recent market coverage, bitcoin’s quote is hanging around $77,300 on Saturday morning, after somehow squeezing a $3,215 intraday adventure into a 24-hour gain of just 0.2%.

That tiny move does a pretty good job of hiding what has actually been a wild ride underneath, as bitcoin’s longer-term structure remains intact while the short-term picture has clearly cooled, leaving bitcoin’s valuation caught between support around $76,040-$76,400 and a stubborn patch of resistance beginning near $77,970.

Bitcoin’s valuation on the 1-hour chart looks like a market that went through all that trouble just to end up back where it started.

After sliding through a descending channel from an annotated $81,401 high around Sept.

11, suddenly came alive, and then got turned away after pushing into the upper $79,000s.

Price has settled into a cramped Saturday range around $77,000-$77,500, and those small candles suggest buyers and sellers are both waiting for somebody else to make the first move.

It’s similar to a log poker game where no one is truly playing or showing their cards.

For now, $76,040-$76,400 is the floor to watch if things get messy again.