Price Analysis: Bitcoin Maintains a Critical Support Level at $80,000


Bitcoin is currently trading at $80,676, maintaining stability within a limited range, as it is below the 200-day Exponential Moving Average (EMA) at $81,743, while still above the converging 50 and 100-day EMAs just below $76,900. This situation indicates a continued overall bullish trend, but it faces some challenges, as the Parabolic SAR indicator has risen to $82,688, adding pressure on the price.

Momentum appears mixed. The Relative Strength Index (RSI) remains at 58 in the bullish zone on the daily chart, but the Moving Average Convergence Divergence (MACD) has fallen further below zero, suggesting that upward attempts may face difficulty as long as the price stays below the 200-day EMA.

Daily ETH/USDT Chart
On the bullish side, the primary resistance is at the 200-day EMA mentioned earlier, which is around $81,743. A daily close above this barrier would open the door for a retest of the Parabolic SAR indicator level at $82,688. On the downside, the 100-day EMA at $76,872 provides immediate support, followed directly by the 50-day EMA at $76,698. Breaking this support level would weaken the short-term structure and reveal further losses, despite the ongoing medium-term bullish trend.
$BTC
BTC-1.1%
ETH-1.79%
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GateUser-c953e466
· 5h ago
Everyone is playing with Supra public chain, invested by the largest exchange in the United States, with their own oracle, launching their own decentralized exchange in June, with all transaction fees burned to achieve deflation, potentially replicating the big explosion of SOL the year before, becoming another dark horse in the public chain space.
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Before00zero
· 5h ago
Bitcoin price retreated toward the support level at $80,000 on Friday after being rejected by the 200-day exponential moving average.
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