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Bitcoin just logged three consecutive higher lows—72.6k, then 74.7k, now approaching 80k. That's textbook higher-low formation following a sharp correction from recent peaks.
What's the setup telling us? Weekly RSI is hovering near oversold territory and starting to turn. Seller enthusiasm is clearly waning. You're seeing volatility compress after that sharp move down. The structure suggests buying interest is stepping in at each dip rather than panic selling continuing. Classic recovery pattern when downside momentum exhausts.