Bitcoin Could Retest $77K as EGRAG Identifies Key Bullish Confirmation Level

What to Know

• EGRAG CRYPTO projects Bitcoin could retest $77,000–$78,000 as its two-week chart approaches a bullish crossover between key exponential moving averages.
• A candle body close above $85,400 would strengthen EGRAG’s bullish outlook, while Fibonacci support near $77,900 marks the projected retest.
• EGRAG favors buying dips over aggressive shorting, expecting a crossover, retest, and support hold before potential expansion within Bitcoin’s cycle.

 

Crypto analyst EGRAG CRYPTO projects a possible Bitcoin pullback toward $77,000–$78,000 as a bullish moving-average crossover approaches. According to EGRAG CRYPTO’s post on X, Bitcoin’s two-week chart shows the nine-period exponential moving average nearing the 21-period average. A move above the longer average would produce the bullish crossover highlighted in the analysis.

EGRAG compared the developing setup with an earlier crossover, when Bitcoin traded near $31,000 before retreating toward approximately $25,000. That decline approached 20%, preceding an expansion phase that underpins the analyst’s current comparison.

The historical cycles supports EGRAG’s expectation that an improving technical outlook could still include a substantial support test. The analyst outlined a preferred sequence involving a crossover, a retest, a successful hold, and eventual price expansion.

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Bitcoin’s $85,400 Closing Level Anchors Bullish Outlook

EGRAG identified a candle body close above $85,400 as a particularly bullish development within the broader technical setup. This threshold corresponds to the chart’s 0.5 Fibonacci retracement level, adding another confirmation point alongside the approaching crossover. The analyst emphasized that a candle body close above $85,400 would provide the strongest bullish confirmation within the outlined setup.

Meanwhile, the 0.382 Fibonacci retracement sits near $77,900, placing it inside the projected $77,000–$78,000 pullback range. This overlap gives EGRAG another chart reference for the potential retest, alongside the historical decline cited in the analysis. Both price areas serve distinct purposes within the outlook, with the higher level marking confirmation and the lower range identifying support.

EGRAG Favors Buying Dips as Bitcoin’s Macro Outlook Stays Bullish

EGRAG favors buying opportunities during declines and expressed reluctance to aggressively short Bitcoin while momentum points upward. The analyst described the macro structure as strongly bullish despite allowing for a retracement toward the highlighted lower range.

Under the preferred scenario, Bitcoin would complete the crossover before testing support and establishing a base for another expansion phase. EGRAG also cautioned against interpreting a healthy retest as evidence that the broader market cycle has ended.

The projection remains conditional because the post describes an approaching crossover rather than confirming its completion. Likewise, the anticipated support hold forms part of the analyst’s preferred sequence rather than an event already established.

EGRAG’s assessment centers on the developing crossover, a candle body close above $85,400, and support around $77,000–$78,000. These markers frame a bullish outlook that accommodates a pullback before potential expansion.

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