Bitcoin Rangebound Above $78K as Traders Weigh Rotation to Altcoins
Bitcoin has been trading within a rangebound construction above $78,000, with Michaël van de Poppe indicating that sub-$76,000 remains a prime accumulation zone for longs. The cryptocurrency has respected the $76,000, $80,000 corridor over the past six months, repeatedly finding bids near prior cycle highs without triggering a decisive breakout.
Traders are now weighing whether the prolonged consolidation sets the stage for rotation into higher-beta assets. Price action on the 4h chart shows Bitcoin trading inside the Bollinger Bands at $78,221.41, with the upper band at $80,625 acting as immediate resistance and the lower band at $76,708 providing short-term support.
The EMA50 at $77,147 continues to function as dynamic support while the EMA200 at $70,582 anchors the broader bullish structure; however, the MACD death cross at -53.21 signals fading momentum even as RSI at 49.56 remains neutral, suggesting a healthy pullback toward the 50-EMA before any continuation attempt.