Bitcoin: Consolidation Resumes After Failed Breakout

Bitcoin at $83710.43 resumes consolidation after the upper scenario breakout failed to materialize, according to Michaël van de Poppe.

Traders now eye a potential sweep lower to $82000 where bids shift toward altcoins rather than BTC itself, as the current quarter favors relative outperformance in the latter.

Price action on the 4h chart shows BTC testing lower Bollinger support at $84006.7 beneath the EMA50 resistance at $84850.44, with the MACD death cross at -113.54 locking in bearish momentum and RSI at 35.19 leaving room for further downside before any altcoin rotation gains traction.