Bitcoin: Daily Resistance Break Attempted
Trader Tardigrade reports Bitcoin testing first resistance on the daily chart after closing below recent support, with RSI setup mirroring prior consolidation patterns.
SourceAnalysis
Bitcoin closed below recent support on the daily chart yet pushes toward first resistance, per @TATrader_Alan. RSI keeps sliding lower, positioning for another overbought spike on any surge, while the structure repeats the prior consolidation sequence of support breaches followed by rallies.
On the 4h chart BTC sits at $80979 inside a bearish trend with price below EMA50 at $81095.69 and EMA200 at $81725.71. MACD registers a bullish golden cross at -9.98 while RSI holds neutral at 52.97; the price remains inside the Bollinger Bands, so a test of upper resistance near $81433.06 appears likely before any retracement toward lower band support at $79464.19.
Trader Tardigrade
@TATrader_AlanTechnical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.