#CanadaSOLETFLaunch Bitcoin (BTC) recently experienced a sharp correction, dropping from a high of $83,533 down to a low of $74,508 over the past few days, as seen on the 1-hour timeframe. The decline came with increased volatility and volume, signaling strong bearish pressure.

However, a potential reversal may be underway. The Parabolic SAR indicator has recently flipped below the candles, which often indicates the beginning of a bullish trend. BTC has also managed to reclaim the $77,500 level after bouncing from the $74,500 support zone.

Key levels to watch:

Support: $74,500 and $74,000

Resistance: $78,000 and $80,000

If Bitcoin maintains above $77,000 and breaks $78,000 with volume confirmation, we could see a push back to the $80K+ range.