Bitcoin: Treasury Measure Fuels Crypto Surge
Bitcoin at $77263.01 surges on Treasury measures as Omkar Godbole details BTC, XRP, ETH, SOL gains with 4h chart showing overbought RSI and EMA50 support.
SourceAnalysis
Omkar Godbole breaks down the drivers behind this week's gains in BTC, XRP, ETH and SOL tied to Treasury policy that avoids classic QE or YCC yet lifts prices.
BTC price prediction models now factor the same macro tailwinds that lifted majors over the past six months. Crypto market analysis shows sustained institutional flows into the sector.
Technical confluence on the 4h chart places BTC at $77263.01 inside Bollinger Bands with upper resistance at $79894.55. RSI(14) at 70.41 flashes overbought while MACD registers a death cross, pointing to a probable retracement toward EMA50 support at $71436.51 before any further advance.
Omkar Godbole, MMS Finance, CMT
@godbole17Staff of MMS Finance.