📊 BITCOIN TECHNICAL ANALYSIS: IS $75K THE NEXT STOP — OR WILL BULLS FIGHT BACK?
BTC is trading around $77,700, and the chart is showing weakness.
🔍 MY TECHNICAL BREAKDOWN:
1. RSI: Around 35 — weak momentum, approaching oversold territory.
2. Moving Averages: BTC is trading below important short-term moving averages. Buyers need to reclaim these levels to regain control.
3. MACD: Bearish momentum remains active.
🎯 KEY PRICE LEVELS TO WATCH
🟢 Support:
$76,400
$75,700
$74,800
🔴 Resistance:
$77,500
$78,200
$79,200
🐻 BEARISH SCENARIO: A sustained break below $76,400 could open the way toward $75,700 and potentially $74,800.
🐂 BULLISH SCENARIO: A strong recovery above $78,200, followed by a break of $79,200, could signal that buyers are returning.
MY VIEW: Short-term momentum is bearish. I would not call this the beginning of a new bull run yet. I want to see a confirmed resistance breakout before turning bullish.