Bitcoin Price Prediction
Bitcoin (BTC/USD) experienced a minor setback, trading at $47,890, reflecting a 0.86% decrease over the past 24 hours. This movement places Bitcoin below its pivot point of $48,571, indicating potential challenges ahead.
The cryptocurrency faces immediate resistance levels at $49,441, $50,290, and $51,288, which must be overcome to signal a bullish reversal. Conversely, support levels are established at $47,127, $46,236, and $45,259, offering crucial fallback points in the event of further declines.
Bitcoin Price Chart – Source: Tradingview
The Relative Strength Index (RSI) at 68 suggests a nearing overbought condition, while the MACD’s divergence points to a mixed momentum, currently positioned for potential downward movement.
The 50-day Exponential Moving Average (EMA) at $45,062 further highlights a critical support zone, underscoring the asset’s current bearish tilt below the $48,850 level.
This situation hints at Bitcoin steadying under significant pressure, with a possibility of extending its bearish correction should it remain beneath the $48,850 threshold, potentially seeking support near the $47,125 level.
Conclusion: Bitcoin’s market posture remains cautiously bearish, pending a decisive movement beyond the $48,850 resistance.
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