8 hour ago
0 0
BEARISH 📉 : Bitcoin struggles to recover as resistance looms at $80,000
Bitcoin is recovering from its recent decline, currently attempting to rise above $77,000 and $78,000. However, it faces significant resistance near $80,000.
- The price trades below $80,000 and the 100 hourly simple moving average.
- A break occurred above a bearish trend line with resistance at $78,400 on the BTC/USD hourly chart.
- If Bitcoin remains stable above $77,000, it could aim for $79,200 and $80,000 resistance levels.
- A close above $80,000 may lead to testing $82,500 or even $84,000.
Potential Decline
- If unable to surpass $79,200 resistance, Bitcoin might decline again.
- Immediate support is at $78,000, with major supports at $77,000 and $76,000.
- Falling below $72,000 would complicate recovery efforts.
Technical Indicators:
- Hourly MACD: Losing pace in the bearish zone.
- Hourly RSI: Above the 50 level.
