- Today's Chart: Bitcoin Nears Continuing Its Gains


Bitcoin is currently trading around $76,500, maintaining a short-term bullish trend as the price stays above the 50-day and 100-day exponential moving averages (EMA) at approximately $72,121 and $75,339 respectively. The recovery of these support levels for the medium-term trend and recent defense of them indicate absorption of declines, while positive readings of the Relative Strength Index (RSI) near 62 on the daily chart, along with a strongly positive Moving Average Convergence Divergence (MACD), suggest continued upward momentum.

Daily chart of the BTC/USDT pair

On the bullish side, a significant barrier is observed around $78,000, the highest level recorded last week, followed by the 200-day exponential moving average near $82,429, which may limit gains during initial tests. On the downside, immediate support is at the 100-day exponential moving average near $75,339, with additional support at the 50-day exponential moving average around $72,121. A sustained break below these levels is required to undermine the current bullish structure and signal a more serious correction phase.
$BTC
BTC0.47%
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Before00zero
· 7h ago
Bitcoin continues to rise above $76,000 as institutional demand for spot exchange-traded funds increases.
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