- Price Analysis: Bitcoin Eases Losses as Support Level Holds


Bitcoin trades above $77,000 at the time of writing this report on Tuesday. The pair is currently stable above the 50-day and 100-day exponential moving averages at $76,751 and $76,877, respectively, but remains below the 200-day exponential moving average near $81,828, making the overall trend somewhat neutral with a slight bias toward downside.

The Relative Strength Index (RSI) hovers around 46 on the daily chart, while the Money Flow Index (MFI) declines toward the 30- level, indicating decreasing buying pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) remains negative on the same chart, hinting at a fragile recovery amid dominance of resistance on the larger timeframe.

Daily BTC/USDT Chart
On the bullish side, the 200-day exponential moving average, around $81,828, represents the main resistance level that buyers need to surpass to regain a more positive medium-term bullish trend. On the downside, immediate support is observed around the current price range, centered on the 100-day exponential moving average at $76,877, and the 50-day exponential moving average at $76,751. Any further decline would reveal a break of the previous trendline near $69,800, considered the next major demand zone.
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