- Technical Analysis: Bitcoin’s price declines as sellers tighten their grip.


Bitcoin is trading at $81,346, maintaining a short-term bullish bias as the price remains well above the 50-day and 100-day exponential moving averages (EMAs) which are clustered around $75,206 - $76,200, while still being capped below the 200-day EMA at approximately $82,153.

The Moving Average Convergence Divergence (MACD) chart remains in positive territory on the daily chart, and the Relative Strength Index (RSI) hovers just below the immediate overbought range at 69, indicating strong bullish momentum, although the high reading suggests that making further gains may become more difficult as the price approaches the upper supply level.

Daily chart of the BTC/USDT pair

On the upside, the 200-day EMA at $82,153 strengthens the immediate resistance level. A decisive daily close above this level would pave the way for broader upward continuation. On the downside, initial support is observed near the 100-day EMA at around $76,200, with the 50-day EMA at $75,206 serving as an additional support layer. As long as buyers keep this EMA range during pullbacks, declines are likely to be treated as corrective moves within the prevailing uptrend.
$BTC
BTC-2.13%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin