Bitcoin's price remains constrained below its 50-day Exponential Moving Average (EMA) at $98,668, its 100-day EMA at $103,844, and its 200-day EMA at $104,696, respectively, maintaining a bearish trend. The Moving Average Convergence Divergence (MACD) indicator on the daily chart has flipped positive and is widening, suggesting the blue MACD line will remain above the signal line, with momentum improving around the zero level. The Relative Strength Index (RSI) stands at 48 (neutral) and is trending higher, providing slight confirmation of price stabilization. An ascending support line from $74,561 was broken near $102,149, indicating a shift in bias and making this area a pivotal barrier for rebounds.
Daily Chart for BTC/USD
The bearish trend remains in place, with price settling below the 50-, 100-, and 200-day EMAs. However, the improved MACD will need sustained positive readings above zero to support a recovery, while the (RSI) near 48 maintains a balanced tone that could prolong the period.
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Today's Chart: Bitcoin Shows Mixed Signals
Bitcoin's price remains constrained below its 50-day Exponential Moving Average (EMA) at $98,668, its 100-day EMA at $103,844, and its 200-day EMA at $104,696, respectively, maintaining a bearish trend. The Moving Average Convergence Divergence (MACD) indicator on the daily chart has flipped positive and is widening, suggesting the blue MACD line will remain above the signal line, with momentum improving around the zero level.
The Relative Strength Index (RSI) stands at 48 (neutral) and is trending higher, providing slight confirmation of price stabilization. An ascending support line from $74,561 was broken near $102,149, indicating a shift in bias and making this area a pivotal barrier for rebounds.
Daily Chart for BTC/USD
The bearish trend remains in place, with price settling below the 50-, 100-, and 200-day EMAs. However, the improved MACD will need sustained positive readings above zero to support a recovery, while the (RSI) near 48 maintains a balanced tone that could prolong the period.