Crypto
BTC Analyst Sees No Immediate Downside for Bitcoin
A prominent Bitcoin analyst, @RhythmicAnalyst, believes that the cryptocurrency is not yet poised for a significant decline.
The analyst argues that a new high in Bitcoin would require an $87k weekly close, while a break below $62k would shift the structure toward a lower low.
In terms of technical analysis, the BTC price currently sits at $78,702.79 inside the Bollinger Bands, with upper resistance at $80,510.29 and lower support at $78,308.94.
The EMA50 at $78,987.7 now serves as concrete resistance, while the EMA200 at $73,864.11 remains distant support.