Bitcoin BTC technical analysis

Bitcoin trades at $79,478 with a 1.90% 24-hour loss, though the daily trend remains up with SMA20 at 76,453.73 and RSI14 at 58 on the 1D. The 4h momentum shows RSI14 at 62, but the price sits just above the 4h SMA20 of 79,109.14, indicating a slight loss of near-term steam.

The immediate battle is at the 78,660-79,500 support zone, which has seen seven touches on the 4h. Above, the 79,880.82-80,119.18 resistance has only one touch, while the rising support trendline near 79,397.23 (two touches) is being tested. Failure of the lower support opens 77,547.96-78,052.85 with five touches.

Bulls need to reclaim the 79,880.82-80,119.18 zone to challenge 81,256.56-81,494.93. Bears must break and hold below 78,660 on a close to target the 77,547.96-78,052.85 support. Conditional moves above or below these levels determine the next directional step.