Bitcoin price risks $78,000 as bearish MACD crossover forms

Bitcoin price has fallen toward $80,800, bringing its 50-day moving average into focus as a bearish daily MACD crossover and an oversold 4-hour RSI put the $80,000 level under pressure. Bitcoin price traded near $80,800 on Oct. 8, below its daily 20-day moving average. The daily MACD line fell below its signal line, with the histogram turning negative. The 4-hour RSI dropped to 21.15 as Bitcoin slipped below its lower Bollinger Band. Analysts identified $78,000 and $75,000 as possible downside levels if nearby support fails. TradingView’s Binance BTC/USDT daily chart showed Bitcoin trading at $80,806 on Oct.

Source: crypto.news