BTC: Liquidation Range Holds Above SMA Support

BTC remains stuck in the range game of liquidation ping pong. Yesterday shorts got paid, longs got rekt, and a new set of longs were lured in after price stabilized above the 50-Day SMA. The fact that price did not wick through the 50-Day SMA and create a lower low may be the most bullish thing in the chart for now.

Strong resistance remains at a cluster of potential short liquidation between the $78,380 Timescape and the 21-Day SMA at $79,222 while local support sits above the 50-Day SMA near $75,840. On the 4-hour chart BTC at $76,544.85 trades inside the Bollinger Bands with upper resistance at $78,891.35; the bearish trend structure places EMA50 at $78,631.73 as overhead resistance and EMA200 at $77,359.56 as nearby support, RSI at 35.83 stays neutral and the MACD golden cross at -730.17 offers the only bullish signal amid the broader downtrend.