Bitcoin: Fills Long Wick After Bearish Sunday Update
CrypNuevo notes Bitcoin has filled its long wick with a 50% recovery after a bearish 4h analysis targeting the 50-EMA and liquidations, with consolidation expected over the weekend ahead of FOMC, PCE and earnings.
SourceAnalysis
Bitcoin has filled its long wick with a 50% recovery following the bearish Sunday analysis from @CrypNuevo that flagged the 4h 50-EMA and liquidation clusters.
Price now sits near the lower Bollinger Band at $77214.61 after trading inside the bands, with the next liquidation pocket eyed at $78.8k. The 4h structure remains bearish as price holds below both the EMA50 at $80431.29 and EMA200 at $81526.02 while the MACD death cross at -740.56 confirms trend weakness and RSI at 34.42 shows neutral momentum without oversold relief. A test of upper-band resistance near $82881.69 looks unlikely before any bounce attempt, leaving the 50-EMA as the first meaningful confluence level to watch for potential consolidation into the FOMC and earnings week.
CrypNuevo
@CrypNuevoAn unbiased technical analyst specializing in liquidity dynamics and market psychology, transcending bull-bear narratives.