BTC: Nears Support Zone on Bearish 4H Chart
Mihir of @RhythmicAnalyst flagged that BTC sits near a support zone while the 4h chart shows price at $75631.02 inside Bollinger bands with EMA50 resistance at $78349.56 and a MACD death cross.
SourceAnalysis
BTC trades at $75631.02 near the lower Bollinger support at $74396.35 after @RhythmicAnalyst warned traders that the asset has reached a key support zone. The 4h structure remains bearish with price below both the EMA50 at $78349.56 and EMA200 at $80703.69. Momentum shows RSI at 35.31 in neutral territory while the MACD at -444.05 confirms the death cross. Price sits inside the bands with upper resistance at $81480.62, suggesting any bounce will likely stall at the EMA50 before the next leg lower.
Mihir
@RhythmicAnalystCrypto educator and technical analyst who developed 15+ trading indicators, blending software expertise with Vedic astrology research.