BTC Faces Major Resistance at Jackson Hole
The upcoming Jackson Hole symposium has Bitcoin traders on high alert as the cryptocurrency eyes major resistance levels. Currently, the price of BTC sits at $80,004.91 within its Bollinger Bands, with an upper resistance level at $80,396.85 and lower support at $77,880.43.
The 4-hour chart shows a bullish trend structure above the EMA50 at $76,099.94 and EMA200 at $69,185.55, but the MACD registers a death cross at 871.77 while the RSI remains neutral at 63.24.
Price action suggests that BTC may test its upper band before pulling back to the 50-EMA support. This setup aligns with historical patterns of Bitcoin performance during Jackson Hole events and current major resistance levels.