Trader Sees $74,500 Low as Prime Entry Zone for Bitcoin Longs

Bitcoin is set to test its range lows within days, according to trader @CryptoMichNL. This creates a prime entry zone for long positions, as the downtrend points toward a potential probe of $74,500.

The current price sits at $76,753.89 inside the Bollinger band with lower support at $76,572.6. The price action remains capped by the EMA50 at $77,972.93 while the EMA200 at $74,253.04 offers deeper structural support.

The neutral RSI at 35.67 leaves room for further downside before any reversal, and the MACD golden cross at -363.35 signals building momentum once that $74,500 zone is reached.