Bitcoin: Weekend Flatness Eyes $76K Breakout
Michaël van de Poppe reports Bitcoin recorded no movement over the weekend yet swept the lows, setting up a potential upward break if price clears $76,000 early in the coming week.
SourceAnalysis
Bitcoin recorded zero net movement over the weekend, exactly as Michaël van de Poppe anticipated in his November 8 post.
The analyst noted that price has already swept the lows, clearing the path for higher levels, but stressed that a decisive push through $76,000 is required to generate momentum with no resistance in between.
On the 4h chart Bitcoin trades at $75,921.76 inside the Bollinger Bands, with the upper band at $79,125.53 acting as immediate volatility resistance while the lower band at $73,632.91 marks short-term support. The structure remains bearish beneath the EMA50 at $77,361.58 and the EMA200 at $80,230.56, yet the MACD golden cross at -548.19 and neutral RSI of 40.37 together suggest any clean break above $76,000 could accelerate quickly toward the upper band before the next retracement to the 50-EMA.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast