Bitcoin: 21-MA Momentum Loss Triggers Warning
Bitcoin at $79155.68 loses 21-MA momentum as Nasdaq corrects and 10-year yields top 4.50%, with $76K support and weekly 50-MA at $90K in focus.
SourceAnalysis
Bitcoin is flashing the first warning signs as the 21-MA loses momentum while the Nasdaq corrects and 10-year yields climb above 4.50%.
Traders watch the $76K horizontal level as the key line in the sand; holding it keeps the door open for higher prices given the weekly 50-MA near $90K.
On the 4h chart BTC trades at $79155.68 inside a bearish structure with price contained by the Bollinger Bands, upper resistance at $82010.48 and lower support at $78508.95; neutral RSI at 40.82 combined with the MACD death cross at -177.3 points to a likely retracement toward EMA50 resistance at $80343.03 before any sustained push higher.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast