From a technical perspective, Bitcoin ($BTC) still has not fully ended its upward move if analyzed through the EMA structure. The $77,000 region is considered a potential short-term target, as the overall trend has not yet been broken.

The area above $76,000 is heavily concentrated with stop-loss orders from the short-selling side. If the price is pushed up and breaks through this zone, it is highly likely to trigger a series of buy-to-cover (short covering) orders. At that point, the market could experience a “passive” acceleration, pushing the price higher in a short period. This aligns perfectly with liquidity logic — where the market often targets zones with many pending orders to “sweep.”
Therefore, the current strategy is relatively clear:
• As long as the trend structure remains unbroken, the remaining long positions (about 20%) can still be held.
• Closely monitor the price reaction at the stop-loss zone above $76,000–$77,000.
• If the price breaks out but momentum weakens, or cannot hold above key levels, that will be a signal to consider taking profits.
• In case of clear reversal signs, consider an opposite strategy.
In summary, the market is in a sensitive liquidity phase. The bulls still have a chance if the structure remains intact, but the upper zone also carries the potential to form a short-term top if the upward momentum is not strong enough. Position management and disciplined trading are more important now than trying to precisely predict the top or bottom.