- Today's Chart: Bitcoin's Rally Pauses as Correction Approaches:


Bitcoin is currently trading at $77,799, supported by its move above the medium-term exponential moving averages, maintaining a positive upward trend. The pair is firmly above the 50-day exponential moving average at $72,789 and the 100-day exponential moving average at $75,484, with the upward trendline now acting as a strong demand zone.

Momentum indicators support the bullish trend, with the Relative Strength Index (RSI) hovering in the bullish zone near 64 on the daily chart, while the Moving Average Convergence Divergence (MACD) remains positive. However, the rising Money Flow Index (MFI) indicates late seventies levels, suggesting overbought conditions that could slow gains.

Daily chart of the BTC/USDT pair

On the bullish side, the next significant hurdles are at the immediate supply zone around $78,000, followed by the 200-day exponential moving average at $82,522. These two levels represent the first major resistance that buyers need to overcome to continue the upward trend. On the downside, the initial support level is at $75,484, where the 100-day exponential moving average meets the upward trendline, followed by the 50-day exponential moving average at $72,788.
$BTC
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Before00zero
· 04-24 13:48
Bitcoin is trading near the key resistance level at $78,000 after a pause in its rally, affected by a decline in retail sector demand.
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