Bitcoin Holds Near $77,700 as Falling Wedge Tightens

Bitcoin (BTC) traded around $77,700 on September 3, up roughly 1.2 % over the previous 24 hours after moving between $76,264 and $78,184. Buyers defended the $76,000‑$76,500 liquidity zone, preventing a sustained break below that area.

Technical pattern: falling wedge

The 4‑hour chart shows a compressed falling wedge. The upper trendline sits near $78,000, while the lower trendline approaches $76,000. A breakout above $78,000 would target $79,500 and $80,300, whereas a break below $76,000 could expose $74,000 and lower levels.

ETF outflows and demand signals

US spot Bitcoin ETFs recorded a net outflow of $236.46 million in the latest session, with Bitwise’s BITB the only fund showing a net inflow. On‑chain demand metrics turned negative on September 2, indicating that newly minted and previously inactive Bitcoin was not being absorbed at the same pace.

Liquidity clusters

CoinGlass heatmaps identified a large downside liquidity cluster around $75,900‑$76,200 and several upside clusters near $78,500‑$78,800, $79,500, $80,000‑$80,500, and $81,500. These zones could act as support or resistance depending on price movement.

Indicator snapshot

• 4‑hour RSI: 48.66 (neutral)
• Aroon Up: 57.14 % vs. Aroon Down: 7.14 %
• Daily price above 20‑day SMA ($74,622) and 50‑day SMA ($68,428)
• Chaikin Money Flow: +0.32 (buying pressure)

Macro backdrop

Markets priced about a 64 % chance of a 25‑basis‑point Fed rate hike at the September 16 meeting. The 10‑year Treasury yield hovered near 4.8 %, offering a higher‑yielding alternative to non‑yielding assets like Bitcoin.

For US traders, the immediate focus remains the $76,000‑$78,000 range. A confirmed move outside the falling wedge would provide a clearer directional signal.