Bitcoin: Resistance at $78K Caps Rally
Bitcoin faces resistance at $78K and $83K per Schwab, capping rally amid bullish trend at $76.7K; BTC price prediction eyes retracement.
SourceSchwab analysts warn that Bitcoin encounters stiff resistance at $78,000 and $83,000, potentially capping the ongoing rally as BTC trades near $76,700 in a bullish macro environment shaped by recent institutional inflows over the past six months, echoing the momentum from last year's ETF approvals but now tempered by regulatory scrutiny in the crypto market crash recovery phase.
As a senior macro-crypto prop trader, I see confluence stacking up on the 4-hour chart where BTC at $76,703 pushes against the upper Bollinger Band resistance around $77,064, backed by a bullish MACD golden cross at 268 signaling sustained upside, yet neutral RSI at 60 hints at no immediate overbought exhaustion. With the 50-EMA holding firm as support at $74,790 above the 200-EMA at $72,030, expect a tactical pullback to that 50-EMA level before probing Schwab's $78K barrier, aligning with BTC price prediction models forecasting volatility in this AI industry impact-driven cycle while weaving in hype around assets like TAO for diversified plays.
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