Bitcoin Price Bounces 5% — AMajor Sell Wall Now Blocks Path?
The post Bitcoin Price Bounces 5% — AMajor Sell Wall Now Blocks Path? appeared on BitcoinEthereumNews.com.
The Bitcoin price saw a short-term rebound after slipping to recent lows, gaining nearly 5% from its late-January bottom to test the $76,980 zone. This BTC price move followed a bullish momentum setup on the 4-hour chart, where selling pressure appeared to weaken. At first glance, the BTC rebound looked technically justified. A familiar short-term pattern had played out before. But a closer look at on-chain and market structure data shows that three major metrics are now questioning whether this bounce can develop into a sustained recovery. Chart Setup That Pointed to a 5% Bounce On the 4-hour timeframe, Bitcoin formed a bullish divergence between January 31 and February 3. During this period, the price of BTC made a lower low, while the Relative Strength Index (RSI), a momentum indicator, formed a higher low. This pattern often appears when selling pressure starts fading and short-term rebounds, albeit on a shorter timeframe, become likely. Sponsored Sponsored A similar divergence appeared earlier between January 20 and January 30. That setup led to a rally toward $84,640 before sellers took control again. Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. BTC Rebound Catalyst: TradingView This time, the pattern produced a rebound of nearly 5%, lifting Bitcoin toward $76,980. The move followed the same technical script as before, reinforcing the idea that the bounce was structurally valid. The BTC price bounce also had macro backing, as mentioned by Martin Gaspar, Senior Crypto Market Strategist at FalconX. He attributed the move to a rotation from precious metals, right before the divergence flashed: “Given Friday’s blow-off top in metals, traders may be anticipating a rotation back to crypto. While BTC had previously been seen as a beneficiary of strength in gold, capital that may have flowed to crypto off such…
Filed under: News - @ February 4, 2026 8:28 am