The great Bitcoin, once a stallion of the digital plains, now stumbles like a drunkard on a dusty road. Below the mighty $75,000 mark it has fallen, and though it tries to rise, its legs tremble at the sight of $76,500. A pitiful sight, it is, like a once-proud rooster now pecking at crumbs.
- The poor thing struggles to lift its head above $74,000, $75,000.
- It drags itself below $79,000, the 100 hourly simple moving average a noose around its neck.
- A bearish trend line forms, a dark cloud at $77,200 on the hourly chart of the BTC/USD pair (Kraken whispers its tale).
- If it falters again below $75,000, $74,000, it might just collapse in a heap.
Bitcoin, once a king, now a pauper, couldn’t hold its ground above $76,000. It tumbled, a sad clown, below $75,000, $74,000. The bears, those ruthless creatures, pushed it down to $72,865. A low point, indeed, like a man who’s lost his last dime in a game of chance.
Now, it tries to climb, a move above $75,000, a feeble attempt. It crosses the 50% Fib retracement level, a small victory, but the bears lurk near $77,000, their claws sharp at the 61.8% Fib retracement. Below $77,000 it trades, the 100 hourly simple moving average a wall it cannot breach.
If it can stay above $75,000, perhaps it will try again. Resistance looms at $76,750, a first hurdle. The key resistance, a mountain, stands at $77,000. A bearish trend line forms, a dark omen at $77,200 on the hourly chart of the BTC/USD pair.
Should it break through $77,200, it might soar, testing $78,500. More gains? Perhaps $79,000. The bulls dream of $80,000, $80,500, but dreams are fragile things.
But if it fails, if it cannot rise above $77,200, another decline awaits. Support crumbles at $75,000, then $74,000. The next stop, $72,850. Further losses? $71,500. The main support, a last stand, at $70,000. Below that, it might never rise again, a fallen star in the digital sky.
Technical indicators, those cold, unfeeling judges:
Hourly MACD – The MACD gains pace in the bearish zone, a grim march.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD dips below 50, a sign of weakness.
Major Support Levels – $75,000, then $74,000, thin ice.
Major Resistance Levels – $76,750, $77,200, walls it must climb.
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2026-02-04 06:06