Bitcoin Breaks Back Above $78,000 as Bull Market Momentum Continues
Bitcoin has reclaimed its $78,000 level, according to recent market activity. This milestone comes as Michaël van de Poppe highlighted the importance of sustaining a grind higher in this bull market.
The current price action for BTC remains constructive, with the price holding above the EMA50 at $76,962.41 and anchored by the EMA200 at $70,264.31. This longer-term uptrend is still intact despite some near-term momentum friction indicated by the MACD death cross at -58.5.
The relative strength index (RSI) remains neutral at 48.13, leaving room for continuation in the price action. Furthermore, the Bollinger Bands indicate that the price is testing inside these bands and may push towards upper resistance at $80,683.82 before any healthy retracement to lower band support near $76,795.08.