Bitcoin: Weekly Close Above $78K Critical
Bitcoin needs weekly close above $78K or risks sharp drop as 4h chart shows bearish MACD death cross and EMA50 resistance at $77584.
SourceAnalysis
Bitcoin must secure a weekly close above $78K immediately or face accelerated downside, warned analyst Charles Edwards.
Price sits at $75972.03 inside Bollinger Bands with upper resistance at $78879.02. The MACD death cross at -389 confirms bearish momentum while RSI at 36.94 stays neutral.
EMA50 at $77584.64 acts as immediate resistance and EMA200 at $74474.35 provides lower support. A failure to reclaim $78K aligns with BTC price prediction models warning of crypto market crash potential. Bitcoin technical analysis points to a probable retracement toward the 50-EMA before any sustained recovery.
Charles Edwards
@caprioleioFounder of Capriole Fund and The Ref.io, leading ventures in the digital asset ecosystem.
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