BITCOIN - The uptrend may give way to a correctionBitcoin / TetherUS PERPETUAL CONTRACTBINANCE:BTCUSDT.PRLindaBTCUSDT.P , following a short squeeze at 79,500, entered a sell-off and closed below the trendline support, causing panic among traders. A consolidation is forming Fundamentally, Bitcoin came under pressure due to the decline in the S&P and Nasdaq stock indices. Technically, the smooth uptrend forming against the backdrop of a global bear market may have lacked the momentum to break through 80K, and the market has entered a phase of liquidity hunting. A long squeeze could allow the market to gather the necessary momentum for growth. Locally, Bitcoin is consolidating below the 77,400–79,500 trading range and below the trendline support, which generally suggests that buyers do not yet believe in an uptrend. A close below 76,500 could confirm a break in the local trend and trigger a further decline. Resistance levels: 77,000, 77,400 Support levels: 76,500, 76,180, 74,600 Bitcoin is testing key support from the D1 timeframe (0.618 Fibonacci) and forming a pre-breakout consolidation around this level, which generally indicates weakness among the bulls in the 76,500 zone. I do not rule out the possibility of a short squeeze at 77,400 before the decline. Best Regards, R. Linda!