BTC

$63980.397

-2.12%

ETH

$1848.483

-1.94%

XRP

$1.349

-1.27%

BNB

$585.34

-2.85%

Analysis

BTC Stop Hunt at $74K: Is the Bull Run Back On?

3 mins mins
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 Key Insights:

  • Bitcoin swept below $74K, triggering stop-loss orders before rebounding from a high-liquidity demand zone.
  • Weekly structure aligns with Wyckoff accumulation, suggesting downside pressure weakened after the Spring phase.
  • Short-term MACD divergence hints at momentum shift, with $78.7K and $80K acting as resistance.
Section 2026 02 04T102318.057
BTC Stop Hunt at $74K: Is the Bull Run Back On?

Bitcoin dropped below $74,000 in recent trading, marking a break of a widely watched support level. Price reached a low near $74,615 before quickly rebounding. The move is being viewed as a possible stop-loss sweep, a common event where price briefly dips to trigger exit orders before reversing direction.

On the weekly chart, BTC touched the lower boundary of a key liquidity zone between $74,615 and $74,798. This area has been marked by analysts as a spot where many stop orders from retail positions are likely placed. When these orders are triggered, it can provide buy-side liquidity for larger market participants. The price reaction suggests that demand may have absorbed the available supply.

Pattern Matches Wyckoff Accumulation Structure

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Chart patterns show that Bitcoin may be following the Wyckoff Accumulation model. The latest drop resembles the “Spring” phase of that model, where price falls below support temporarily before recovering. This phase is known for forcing weak hands out of the market.

The model shows that after the Spring, price usually returns to the same level to test it on lower volume. That move, if it holds, often leads to a shift into a higher trading range. The model labels the next steps as “Test,” followed by “LPS” (Last Point of Support) and “SOS” (Sign of Strength), where higher prices are sustained.

Nehal, a chart analyst on X, posted: 

“Spring swept the lows. Stops cleared. Weak hands flushed. Now comes the test → then markup.”

Source: Nehal/X
Source: Nehal/X

Short-Term Chart Shows Divergence Forming

The 2-hour BTC/USDT chart is showing early signs of a possible bullish divergence. Price recently made a lower low, while the MACD indicator shows higher lows. If the MACD line crosses above the signal line, this setup would confirm the divergence.

Crypto TA King posted,

“If MACD take crossover then bullish divergence will form and #BTC may test 80k.” 

Source: Crypto TA King/X
Source: Crypto TA King/X

A crossover is a commonly watched signal among short-term traders. The chart currently shows that price is attempting to stabilize and may test resistance near $80,000 if momentum continues to shift upward.

BTC Price Levels to Watch Going Forward

Bitcoin was trading at $76,565.50 at the time of writing. The price has fallen 2.5% over the past 24 hours and 13.9% in the past 7 days. The key level to monitor remains the $74,800 zone. A confirmed close above this area on the weekly chart would support the case for a continued move higher.

Immediate resistance is found near the February 2025 Open at $78,706. If price breaks this level, the next target is the 2026 Yearly Open at $87,608. The Weekly EMA50 sits above the current price, which may serve as a barrier in the short term. The volume profile also shows high interest just below current levels, which could support price if tested again.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Avatar of Olivia Stephanie

Olivia Stephanie

04 February 2026, 07:24:54 GMT +0000

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