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Bitcoin Bull Run Unfolds as Analyst Flags Key Price Levels

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BTC
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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.

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