$BTC #btc

Controlled Pullback After 81,269 Dollar Top
Bitcoin is consolidating after a strong rally from 63,379 dollars to 81,269 dollars. BTC/USDT is currently trading at 79,146.2 dollars with a daily loss of 0.42 percent. The 24 hour range is defined by a high of 81,269.2 dollars and a low of 78,113.5 dollars. Volume stands at 14.76K BTC with a turnover of 1.17B dollars.

The technical structure on the 4 hour chart remains bullish. The move that started on August 17 gained aggressive momentum on August 20 and reached 81,269.2 dollars on the night of August 24. Price is now holding just above EMA5 at 79,237.4 dollars and EMA10 at 78,851.9 dollars. EMA30 at 76,454.7 dollars is the main trend support. As long as price stays above EMA10, this pullback is considered a healthy correction within an uptrend.

The reason for the pressure is headline driven. The alert on the platform notes that BTC dropped 0.70 percent in 15 minutes as US Iran conflict headlines hit the market. Such geopolitical headlines trigger liquidation of leveraged long positions in the short term. On the derivatives side, BTCUSDT Perp is at 79,090.1 dollars down 0.29 percent. The narrow spread between spot and perp shows no panic selling.

On the indicator side, MFI is at 70.3. The MFI pulled back from the overbought zone above 80, indicating that the overheating seen during the rally is cooling. Volume decreasing at the top confirms that new buyers are waiting on the sidelines.

Levels to watch are clear. To the downside, EMA10 at 78,851.9 dollars is the first defense. A 4 hour close below this level brings the 78,113.5 dollar low and then EMA30 at 76,454.7 dollars into focus. To the upside, a close above EMA5 at 79,237.4 dollars opens the psychological 80,000 dollar level and then a retest of the 81,269.2 dollar high.

In conclusion, the correction from 63,379 dollars to 81,269 dollars is proceeding in a controlled manner. As long as 76,454 dollars holds, the primary uptrend remains intact.

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