Bitcoin Eyes $80,000 as Price Bounces Above $77,000

Bitcoin has bounced back from its lows and is now eyeing $80,000 after sweeping past $77,000. According to Michaël van de Poppe, this move could open up a direct test at $80,000, with the possibility of further upside towards $82,700. However, he also noted that a typical Sunday dip could occur first, which would make $74,000 an important buy zone on any deeper break.

The current price of Bitcoin is sitting at $77,105.42 within its Bollinger Bands, with upper resistance at $78,311.21. The 50-EMA and 200-EMA continue to anchor the bullish structure from the past year, but the MACD death cross signals short-term momentum loss.

The RSI is currently at 64.9, indicating a neutral stance, and a healthy retracement towards the 50-EMA support may be probable before any continuation higher in this price setup.