Bitcoin Trader Waits for Break Above $77,900

Bitcoin's price has been stuck in indecision as trader Michaël van de Poppe waits for a break above $77,900 to enter long. The current price of BTC is sitting at $77,191 on the 4-hour chart.

The Bollinger Bands indicate that the price trades inside them with upper resistance at $78,604.03. However, the EMA50 at $78,129.07 acts as a cap to the upside, while the EMA200 at $74,208.88 serves as an anchor for the longer-term floor.

The Relative Strength Index (RSI) is neutral at 40.59, but the MACD golden cross at -388.5 signals building bullish momentum that could push the price towards the upper band before any retracement to the 50-EMA support.