Crypto
Bitcoin Holds Support Levels Amid Correction
Bitcoin has maintained its structural integrity despite a correction in price, according to Michaël van de Poppe, also known as @CryptoMichNL. The cryptocurrency is currently trading at $78,884.72 and is eyeing support levels of $76,400-$77,100 before a potential range forms that could lift altcoins.
The price action is taking place within Bollinger Bands, with upper resistance at $80,356.83, while the 50-day Exponential Moving Average (EMA) is at $75,327.43 and the 200-day EMA is at $68,635.84, acting as long-term supports.
The Relative Strength Index (RSI) is sitting at 58.74, indicating a neutral sentiment, while the MACD shows a death cross at 885.71, suggesting a probable retracement towards the 50-EMA before continuation.