Bitcoin: Must Hold $76K for Rally
Bitcoin needs to hold above $76K to sustain its upward structure, with potential rally to 50-Week MA boosting altcoins, per CryptoMichNL analysis.
SourceAnalysis
Bitcoin remains stable but must maintain support above $76K to prevent a breakdown of its upward trend, according to trader Michaël van de Poppe. He expects it to hold firm and continue rallying, especially with the 50-Week MA looming as key resistance—the typical landing spot for the first surge out of a bear market, which could ignite fresh momentum for altcoins amid ongoing BTC price prediction debates and crypto market rally expectations.
Zooming into the 4-hour chart, Bitcoin trades at $80,162.68 within a bullish structure, hugging the EMA50 at $79,719.56 as immediate support while the EMA200 at $75,943.02 anchors the longer-term floor. Momentum sits neutral with RSI at 49.12, but MACD's bearish death cross at 26.29 signals caution—price action squeezes inside Bollinger Bands, testing the upper resistance at $82,322.19 where volatility could exhaust, likely prompting a pullback to the lower support of $79,061.48 before resuming the uptrend, especially if it aligns with broader Bitcoin technical analysis confluences like the 50-Week MA push.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast