Analysis: Bitcoin Short-Term Indicators Bearish but Long-Term Moving Averages Remain Bullish

Odaily reports that Bitcoin traded between $76,400 and $76,700 on Sunday morning, having experienced sharp swings between $79,837 and $76,040 on September 12. Short-term price action was rejected twice at the $82,300 to $82,800 range, and the price remains below several short-period moving averages.

Daily indicators show that of 11 oscillators, 2 are bearish, 8 are neutral, and 1 is bullish; of 15 moving averages, 9 are bullish, 5 are bearish, and 1 is neutral. Bitcoin remains above the 30, 50, 100, and 200-period exponential and simple moving averages.

The $76,000 to $76,500 zone continues to provide support, with the next support range at $74,000 to $75,200; overhead resistance sits at $78,500 to $82,800. If the price reclaims $78,500, it may retest higher levels; if it breaks below $76,000, support near $74,000 will come into focus. (Bitcoin News)