Bitcoin: Consolidates Above $75,000 Low

Bitcoin is consolidating above the crucial level after sweeping the low at $75,000, according to Michaël van de Poppe. The trader anticipates limited movement over the weekend and a breakout higher next week or the week after on what he calls a clear chart.

At $76,155.83 the 4h structure remains bearish with price below the EMA50 at $77,771.81 and the EMA200 at $80,461.06. The MACD death cross at -641.71 reinforces downside pressure while the neutral RSI at 40.93 and position inside the Bollinger bands between $73,476.64 and $81,568.97 point to range-bound action before any sustained directional move.