BEARISH 📉 : Bitcoin falls below $76,500, tests $75,000 support, risks further losses
Bitcoin slips under $76,500; $75,000 support in play
Bitcoin fell below $76,500 and touched $74,940. Price consolidates under $76,200. A break above $77,200 is needed to ease downside.
BTC extended losses below $76,000 and $75,500, then briefly under $75,000 to a $74,940 low, per NewsBTC analysis on the $76,500 break.
Price trades below $76,200 and the 100-hour SMA, with a bearish trend line capping at $77,200, per NewsBTC analysis on the 100-hour SMA. Immediate resistance sits near $76,400, the 50% Fib of the $77,888–$74,940 drop.
A close above $77,200 could target $77,650 and $78,000. Next barrier stands at $78,500, per NewsBTC.
Failure at $77,200 keeps risk toward $75,500, $75,250, and $75,000. Below, $74,200 and the main $73,500 support come into view, per NewsBTC.
Technical backdrop:
- MACD accelerates in the bearish zone
- RSI sits below 50
- Data from NewsBTC
Key levels:
- Resistance: $76,400, $77,200, $77,650, $78,000, $78,500
- Support: $75,500, $75,250, $75,000, $74,200, $73,500