Bitcoin: 50-Day SMA Retest Holds Bullish Despite Fading Momentum

Material Indicators highlights that Bitcoin's repeated tests and holds at the 50-Day SMA remain extremely bullish, yet three consecutive daily rejections at the 21-Day SMA show bulls lack breakout momentum.

Another rejection at the Q4 Timescape R/S Flip Line of $83.5k further validates fading bullish pressure, with the firm noting that full candles above both $83.5k and $86.5k are required before the risk of a deeper support test into the $69k-$75k range can be dismissed.

Price action on the 4h chart shows BTC trading at $83224.01 inside the Bollinger Bands with the upper resistance at $84250.78 acting as immediate volatility exhaustion, while the EMA50 at $83461.71 serves as concrete resistance and the EMA200 at $82321.42 as longer-term support; the neutral RSI at 49.59 paired with the MACD golden cross at -10.87 suggests any push toward the upper band will likely meet selling that forces a healthy retracement to the 50-EMA before continuation attempts resume.