Bitcoin: Holds $82K Support, Eyes Higher Low
Michaël van de Poppe notes Bitcoin held crucial support after failing to break $84,000 resistance, with altcoins lagging as the market consolidates and requires a higher low to resume upside.
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Michaël van de Poppe stated that Bitcoin faced key resistance zones it could not break, yet held support near the $82,000 level that must stay intact to avoid liquidity grabs toward $79,000 or $77,000.
Altcoins struggle to keep pace, a normal occurrence when Bitcoin consolidates, though confidence should return if price prints a higher low and resumes the upward path.
Price sits at $83507.76 on the 4h chart, pressing against the upper Bollinger Band resistance at $84255.04 while the EMA50 at $83474.52 acts as immediate support above the EMA200 at $82319.69. With MACD showing a bullish golden cross at -2.75 and RSI neutral at 52.06, the structure favors continuation higher provided Bitcoin avoids a break below the lower band at $82236.67 that would accelerate downside.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast