Bitcoin: Rejects 50 WMA, Loses $78380 Support
Bitcoin at $77875.23 breaks below $78380 after third 50 WMA rejection with negative order flow ahead of PPI data.
SourceAnalysis
BTC suffers a third rejection at the 50 WMA and loses the 21-DMA plus Timescape R/S Flip Line at $78380 as FireCharts order flow stays negative.
Breakout probability today sits low with PPI data arriving in under an hour.
Price action on the 4h chart places BTC at $77875.23 beneath the EMA50 resistance at $78776.83 in a bearish trend structure, MACD locked in a death cross at -339.52 while neutral RSI at 37.78 keeps the asset inside Bollinger bands capped by $79607.1 upper resistance and $77680.64 lower support.
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