Bitcoin: Surges Above $80,000
Bitcoin surges above $80,000, up $23,000 since July 1 low. BTC price prediction and technical confluence on 4h chart show bullish momentum with overbought RSI.
SourceAnalysis
Bitcoin surges above $80,000 as the crypto rally gains momentum, now up $23,000 since its July 1st low according to @KobeissiLetter.
Price action on the 4h chart reveals BTC trading at $80,685.87 within a bullish trend defined by EMA50 at $77,660.25 and EMA200 at $72,174.11 as concrete support levels. With price testing upper Bollinger resistance at $79,702.94 while RSI flashes overbought at 71.44 and MACD holds a golden cross at 62.67, a healthy retracement to the 50-EMA support at $77,660.25 seems probable before further continuation in this BTC price prediction scenario amid sustained crypto market strength.
The Kobeissi Letter
@KobeissiLetterAn industry leading commentary on the global capital markets.
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