Bitcoin $BTC has been rejected at the 50-day EMA, and it's now trading around $79,750.
The $80,700 area was supposed to act as support. It's now resistance until #BTC can reclaim it.
We've also got price slipping back below $80K, with the recent lows around $79K coming back into play.
If buyers can't recover the 50D EMA soon, a retest of the $77K–$78K region becomes a real possibility.
Not the signal bulls wanted to see here.
The $80,700 area was supposed to act as support. It's now resistance until #BTC can reclaim it.
We've also got price slipping back below $80K, with the recent lows around $79K coming back into play.
If buyers can't recover the 50D EMA soon, a retest of the $77K–$78K region becomes a real possibility.
Not the signal bulls wanted to see here.
