Bitcoin: Clears $80,000 for First Time Since May
Bitcoin: BTC surges above $80839 with +29% weekly gain, first break since May 15 as 4h chart shows overbought RSI at 77 amid upper Bollinger test.
SourceAnalysis
Bitcoin cleared $80,000 for the first time since May 15, posting a +29% gain over seven days according to @KobeissiLetter.
The move aligns with broader BTC price prediction models that flagged momentum from institutional flows in the prior quarter. BTC now trades at $80839.01 on the 4h chart inside a bullish structure defined by EMA50 at $73401.01 and EMA200 at $67450.68, yet momentum indicators flash caution with RSI(14) at 77.01 and MACD printing a death cross at 1898.88.
Price is testing the upper Bollinger Band resistance at $79934.17 while the lower band sits at $75619.78; with RSI already overbought, a healthy retracement toward the 50-EMA support at $73401.01 appears probable before continuation. This setup also feeds into ongoing searches around what caused Bitcoin 29% weekly surge and Bitcoin price history crossing $80,000.
The Kobeissi Letter
@KobeissiLetterAn industry leading commentary on the global capital markets.
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