Bitcoin: Daily Candle Closes Under Support

Bitcoin daily candle closed under the recent support again according to @TATrader_Alan. RSI keeps pushing lower, setting up for another overbought reading if price surges again. The price structure is similar to the previous consolidation with days trading under support then a surge.

On the 4h chart BTC trades at $80170.84 inside the Bollinger Bands with upper resistance at $82054.4 and lower support at $79561.99. Price sits below both EMA50 at $81482.21 and EMA200 at $81869.3 confirming the bearish trend while MACD at -504.59 shows a death cross. With price testing upper Bollinger resistance while RSI at 40.09 remains neutral a healthy retracement toward the 50-EMA support at $81482.21 appears probable before further continuation.