Bitcoin: Analyst Flags Heavy Support Sweep Lower
Bitcoin at $78217.86 faces heavy support with Michaël van de Poppe targeting $74750 on potential sweep below $78700 reclaim zone.
SourceAnalysis
Bitcoin faces heavy support according to Michaël van de Poppe, who expects a sweep lower with multiple wicks amplifying downside risk and shows primary interest at $76000 and especially $74750 unless price reclaims the $78700 area. BTC price prediction models now incorporate Bitcoin historical sweeps below support zones as price trades at $78217.86 inside a bearish structure where EMA50 at $78826.79 caps upside and EMA200 at $74093.03 offers distant floor. With MACD at -287.51 confirming death cross momentum and RSI at 41.67 still neutral, price action tests upper Bollinger resistance near $79632.54 while lower band support sits at $77840.89, setting up a probable retracement toward the 50-EMA before any continuation attempt.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast