Bitcoin reclaims $80K zone as BNB, TON, GT, ATOM hint at altcoin season

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Coin Telegraph 11h ago

Bitcoin reclaims $80K zone as BNB, TON, GT, ATOM hint at altcoin season - Coin Telegraph

Quick Summary:

Bitcoin price analysisThe downsloping 20-day exponential moving average ($86,188) suggests that bears are in command, but the positive divergence on the relative strength index (RSI) indicates that the selling pressure is reducing.BTC/USDT daily chart.

Source: Cointelegraph/TradingViewIf the price turns down from the current level, the BTC/USDT pair could drop to $80,000 and then to $76,606. Contrarily, if the price turns up and breaks above the 20-day EMA, it will signal that the markets have rejected the breakdown below the 200-day SMA.

Source: Cointelegraph/TradingViewThe 4-hour chart shows that the bears are finding it difficult to maintain the price below the 20-EMA.