Bitcoin: Lower Timeframe Divergences Build Bullish
Bitcoin trades at $77134.27 with bearish EMA50 at $77522.71 and MACD death cross while lower timeframe bullish divergences form on the 4h chart.
SourceAnalysis
Bitcoin holds steady near $77134.27 as the 4h chart shows price inside the Bollinger Bands with upper resistance at $79280.42 and lower support at $76785.25. The structure remains bearish with EMA50 capping at $77522.71 and EMA200 providing distant floor at $71799.51, while MACD prints a death cross at -299.4. RSI at 40.62 stays neutral yet BTC price prediction models now factor the slow formation of bullish divergences on lower timeframes that @CryptoMichNL highlighted. Traders watch for a test of the EMA50 resistance before any sustained move lower toward the EMA200 confluence zone.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast