Bitcoin: Daily Low Solidifies as Medium-Term Support
@RhythmicAnalyst notes Bitcoin's oscillator has moved above its average line after yesterday's bounce, making the prior low a key support level on the 1D timeframe.
SourceAnalysis
Bitcoin saw yesterday's low lock in as medium-term support on the daily timeframe once the oscillator crossed above its average line following the bounce.
BTC trades at $83423.62 on the 4h chart inside a bearish structure where the EMA50 at $83466.3 caps upside while the EMA200 at $82334.35 anchors the floor; the MACD golden cross at 47.57 supplies bullish momentum even as RSI sits neutral at 51.03, keeping price between the Bollinger bands with $84334.49 as the near-term volatility target before any deeper test of $82384.76.
Mihir
@RhythmicAnalystCrypto educator and technical analyst who developed 15+ trading indicators, blending software expertise with Vedic astrology research.