$BTC Bitcoin Faces Difficulty Reclaiming Momentumš„š„š„
Bitcoin is trading above US$83,000, extending a constructive bullish bias as price holds well above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs). The SuperTrend line is also lagging significantly below the spot price, reinforcing a supportive backdrop, while the Relative Strength Index (RSI) near 58 signals positive momentum that is not yet excessive.
On the other hand, the Moving Average Convergence Divergence (MACD) indicator has slipped into negative territory, with a weakening histogram, hinting that upward momentum is losing some steam even though the broader trend is still pointing upward.
āOn the downside, the initial support aligns with the SuperTrend level around US$8.352, closely backed by the 50-day EMA near US$77.786, forming the nearest demand zone on any pullback.
āA deeper drop would expose a stronger support cluster where the 100-day EMA at US$74.302 and the 200-day EMA at US$74.421 convergeāan area expected to attract buyers if price falls while continuing to trade comfortably above this long-term average
#USCorePCEEasesTo3%InAugust #AltcoinSeasonIndexHoldsAbove60For5Days $NVDAB $PEPE
Bitcoin is trading above US$83,000, extending a constructive bullish bias as price holds well above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs). The SuperTrend line is also lagging significantly below the spot price, reinforcing a supportive backdrop, while the Relative Strength Index (RSI) near 58 signals positive momentum that is not yet excessive.
On the other hand, the Moving Average Convergence Divergence (MACD) indicator has slipped into negative territory, with a weakening histogram, hinting that upward momentum is losing some steam even though the broader trend is still pointing upward.
āOn the downside, the initial support aligns with the SuperTrend level around US$8.352, closely backed by the 50-day EMA near US$77.786, forming the nearest demand zone on any pullback.
āA deeper drop would expose a stronger support cluster where the 100-day EMA at US$74.302 and the 200-day EMA at US$74.421 convergeāan area expected to attract buyers if price falls while continuing to trade comfortably above this long-term average
#USCorePCEEasesTo3%InAugust #AltcoinSeasonIndexHoldsAbove60For5Days $NVDAB $PEPE
