Bitcoin: $71K Support Decides Breakout Path
Bitcoin tests $71K support at $74017.99 as 4h chart shows neutral RSI 45.07 and MACD golden cross targeting $76.6K.
SourceAnalysis
Bitcoin trades at a decisive juncture near $74017.99 where loss of the $71K zone opens a path to $65K accumulation levels according to trader @CryptoMichNL. Price action on the 4h chart reveals a bearish structure with the asset pressing the upper Bollinger Band resistance at $74909.59 while RSI at 45.07 remains neutral and the MACD golden cross at -522.99 signals building upside momentum that could stall at the EMA50 resistance of $75163.92 before any sustained advance. This setup diverges from the February breakdown because prior range resistance failed to flip into support, making the current $71K hold essential to avoid deeper tests toward the EMA200 at $76707.59. Sustained defense here aligns with BTC price prediction scenarios that favor a push through $76.6K and subsequent altcoin strength rather than a crypto market crash repeat.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast