Bitcoin: Tests $79K Resistance
Bitcoin sweeps $79K with higher lows and highs, eyeing retest next week amid bullish trend. BTC price prediction sees resistance challenge.
SourceBitcoin maintains strength with higher lows and highs on lower timeframes, executing a classic sweep of the $79K level without a breakout, as noted by trader @CryptoMichNL. This standard price action sets up for another resistance test over the next week, aligning with ongoing BTC momentum in the crypto market.
In this macro-technical setup on the 4-hour chart, Bitcoin's price at $77,339.47 holds firm above the EMA50 at $76,668.77 and well clear of the EMA200 at $73,289.08, reinforcing a bullish trend structure that demands respect from any institutional desk. Yet the MACD at 203.86 flashes a bearish death cross, clashing with a neutral RSI of 49.64 that leaves ample headroom before exhaustion. Price dances inside the Bollinger Bands, probing the upper resistance at $78,942.34 while the lower support at $76,904.34 acts as a volatility buffer—confluence here screams a calculated pullback to EMA50 support before bulls reload for that $79K assault, mirroring the BTC price prediction and broader crypto market analysis trends.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast