$BTC is trading at ~79,740 USDT, sitting just above the floor that has held since Oct 24. Hold or break?
• Trend: lower highs since Oct 22 (84,898 > 82,060 > 81,033 > 80,575), price under the 4H EMA50 (~81,370) and EMA200 (~81,830)
• Key support: 79,220-79,450 (Oct 24 low and today's lows, tested 3 times), then 77,600-78,000 (early Sep lows)
• Key resistance: 80,500-80,600 (downtrend line + today's high), then 81,030 and the 81,370-81,830 EMA zone
• RSI(14) ~37, weak momentum but not oversold yet
• Bullish: a 4H close above 80,600 breaks the line and opens 81,030, then the EMA zone. Bearish: losing 79,220 on a close puts 77,600-78,000 in play
Bottom line: BTC is squeezed between 79,220 and 80,600. Watch which side closes first.
Not financial advice.
#bitcoin #BTC #TechnicalAnalysis #CryptoMarket #Binance
• Trend: lower highs since Oct 22 (84,898 > 82,060 > 81,033 > 80,575), price under the 4H EMA50 (~81,370) and EMA200 (~81,830)
• Key support: 79,220-79,450 (Oct 24 low and today's lows, tested 3 times), then 77,600-78,000 (early Sep lows)
• Key resistance: 80,500-80,600 (downtrend line + today's high), then 81,030 and the 81,370-81,830 EMA zone
• RSI(14) ~37, weak momentum but not oversold yet
• Bullish: a 4H close above 80,600 breaks the line and opens 81,030, then the EMA zone. Bearish: losing 79,220 on a close puts 77,600-78,000 in play
Bottom line: BTC is squeezed between 79,220 and 80,600. Watch which side closes first.
Not financial advice.
#bitcoin #BTC #TechnicalAnalysis #CryptoMarket #Binance
