- Price Analysis: Bitcoin Maintains Short-Term Support Level:


Bitcoin is trading around $77,440 while staying above the 50-day and 100-day exponential moving averages (EMAs) near $76,829 and $76,906, which still provide fundamental support, but remain well below the 200-day EMA at $81,634, which limits broader upside and maintains a neutral to slightly bearish tone in the near term.

Momentum has slowed, with the Relative Strength Index (RSI) hovering below the midline of 50 on the daily chart, and the Moving Average Convergence Divergence (MACD) chart is in a significantly negative zone, indicating buying pressure is waning despite the price remaining above medium-term trend measures.

Daily chart of the BTC/USDT pair

On the downside, immediate support is centered around the 100-day exponential moving average at $76,906, closely supported by the 50-day EMA at $76,829. A sustained break below this range would reveal the next important technical support zone around the breakout area of the upward trend line near $70,089. On the upside, the 200-day EMA at $81,632 represents the key resistance level to overcome. As long as Bitcoin’s price remains below this long-term average, upward movements are likely to face upward pressure rather than mark the beginning of a sustainable bullish wave.
$BTC
BTC-3.41%
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Before00zero
· 19h ago
Bitcoin maintains a support level above $77,000, but is struggling to gain momentum as exchange-traded funds recorded five consecutive days of outflows.
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