Bitcoin Bounces Off Logarithmic Support
Bitcoin is reacting to long-term logarithmic support on its monthly chart, echoing patterns seen in 2015 and 2022. Trader @TATrader_Alan notes that this structure often precedes a new upward leg.
The current price of $48,533.58 sits within the Bollinger Bands, with resistance at $86,176.8. Technical indicators show a healthy retracement toward support is likely before continuation, aligning cycle strength with 4h price action.
Key support levels include the EMA50 at $84,122.17 and EMA200 at $80,679.76. The RSI at 53.75 remains neutral, while the MACD shows a death cross at 244.12.