Bitcoin's Price Looks Shaky at $76K, but the Trend Says Otherwise
Bitcoin‘s price is sitting between $76,400 to $76,700 per unit on Sunday morning, which sounds pretty uneventful until you look under the hood. Short-term momentum has gone sour, BTC has been turned away twice from roughly $82,300-$82,800, and several averages immediately overhead are now working against it. Yet zoom out far enough and almost the opposite picture appears. Bitcoin’s price is still trading above nearly every major longer-term moving average. The bears have the short game. The bulls still own much of the long one. Key TakeawaysBitcoin‘s price sits near $76,400 to $76,700 over the last hour after Sept. 12’s wild $79,837-to-$76,040 swing.The daily charts 11 oscillators lean bearish, but 9 of 15 moving averages remain bullish.Bitcoins price needs to reach roughly $78,500 per coin, and losing $76,000 would put lower support in play. 1-Hour Chart Outlook That makes the 1-hour chart a good place to see just how messy things have become. On Sept. 12, bitcoins price shot all the way to $79,837 before getting hammered down to $76,040, a $3,797 trip from top to bottom. Since that shakeout, the fireworks have mostly stopped. BTC has spent its time squeezed between roughly $76,600 and $77,300, with the latest trades around $76,817-$76,819, and Sunday
