Bitcoin: $78K Retest Ahead in Rangebound Phase

Bitcoin faces an imminent $78,000 retest according to trader Michaël van de Poppe, who notes the market remains rangebound with limited momentum.

Price action at $78,920.76 sits just below the lower Bollinger band support at $78,975.35 while the EMA50 resistance at $79,036.97 caps upside in a bearish structure confirmed by the MACD death cross at 11.15. Neutral RSI at 43.44 leaves room for further downside toward $78,000 before any bounce, aligning with van de Poppe's view that holding this level opens altcoin opportunities while a break triggers a $74,000 probe.

Traders monitoring BTC price prediction models and crypto market analysis should watch these Bitcoin support levels closely for the next directional move.