Bitcoin Bull Run Unfolds as Analyst Flags Key Price Levels
Bitcoin is currently sitting at $77,384, according to analyst CryptoMichNL.
The macro structure of Bitcoin's price action is considered a bull run by CryptoMichNL, but he advises day traders to wait for a sweep of lows or the price to reclaim $78,000 before chasing highs.
Bitcoin's price is currently trading within its Bollinger Bands, with upper resistance at $78,605 and lower support at $76,442. The EMA50 is capping upside at $78,136, while the EMA200 offers structural floor support at $74,210.
CryptoMichNL notes that momentum is shifting higher, indicated by a neutral RSI of 43.04 and a MACD golden cross of -373.