- Today's Chart: Bitcoin consolidates as bulls look for a short-term breakout:



Bitcoin price hovers above $68,000, in line with the Relative Strength Index (RSI) which remains around 36 on the daily chart. Continued RSI movement toward the midline would support short-term bullish outlooks and increase the likelihood of Bitcoin stabilizing above $70,000.

The Moving Average Convergence Divergence (MACD) indicates it is above the signal line on the same chart, suggesting momentum has shifted in favor of buyers. Additionally, the green bars are expanding above the zero line, encouraging traders to increase their positions.

However, Bitcoin is still below the 50-day exponential moving average at $80,718, the 100-day EMA at $87,491, and the 200-day EMA at $93,886. All three moving averages are trending downward, maintaining a bearish outlook. If Bitcoin continues to decline, the first major support level will be at $65,118, the lowest point recorded on February 12.

$BTC Daily chart of BTC/USDT
BTC-0,54%
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Before00zerovip
· 4h ago
The Bitcoin price remains above $68,000, influenced by decreased retail activity and weak technical indicators.
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