#NasdaqETFUpdate Bitcoin Eyes Recovery After Recent Dip — Is a Bullish Reversal Forming?

Bitcoin (BTC) is trading at $77,521, down 1.86% in the last 24 hours. After a strong rejection from the $83,500 zone earlier this week, BTC plunged to a 24-hour low of $74,620. However, today’s price action hints at a potential short-term recovery.

On the 1-hour chart, we see a bounce forming off the $74,500 support, with increasing volume and a bullish flip of the Parabolic SAR dots now below the price candles. This is often interpreted as an early signal of upward momentum.

Key Technical Highlights:

Parabolic SAR flipped bullish near $74,500

Volume showed strong buying pressure during the bounce

Immediate resistance lies at $78,027, with stronger resistance around $80,000

Support remains firm at $74,056 and $74,500

If Bitcoin breaks above $78,000 with sustained volume, we may see a challenge toward the $80K level again. However, failure to hold $77K could lead to another retest of the $74K support zone.