- Technical Analysis: Bitcoin shows slight technical weakness and maintains the support level.


Bitcoin is currently trading at $80,845, maintaining a positive upward trend, with the price staying above the 50-day and 100-day exponential moving averages (EMA), which are near $76,018 and $76,546 respectively, along with the SuperTrend support level around $75,648. The 200-day exponential moving average, approximately at $81,982, forms a significant bullish barrier. The Moving Average Convergence Divergence (MACD) indicator, slightly above zero, along with the Relative Strength Index (RSI) at around 61 on the daily chart, indicates ongoing bullish momentum, albeit not strong, supporting this recent rise.

Daily chart of the BTC/USDT pair
On the downside, initial support is expected from the 100-day EMA at $76,546, supported by the 50-day EMA at $76,018 and the super trend line near $75,648 in case of a deeper pullback. On the upside, a clear daily close above the 200-day EMA resistance level at $81,982 is likely to pave the way for further gains, while repeated failure to surpass this level could lead to consolidation or a corrective phase toward the support levels of the EMA and the super trend line.
$BTC
BTC0.56%
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Before00zero
· 5h ago
The price of Bitcoin dropped to around $80,000 amid increasing geopolitical tensions affecting sentiment after Trump's rejection of Iran's latest proposal to end the war.
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