Technical Analysis: Bitcoin consolidates above $75,000 threshold with potential
According to data from the crypto.news platform, the digital currency BTC was trading at approximately $76,362 at the time of writing this report, recording a modest increase of about 0.2% during the day. Price fluctuations were contained between a low of $76,055 and a high of $76,774. This trading session followed immediately after a period of aggressive selling, in which market activity temporarily pushed the price below the psychological barrier of $75,000, at which point buyers intervened decisively to halt the decline.
Breaking news
Crypto News Site Faces Sale After Google Penalty
Justin Drake urges crypto ‘bunker mode,’ as AI could break wallet security within months
XRP Whale Withdrawals from Binance Hit Seven-Month Peak
What is a euro-pegged stablecoin?The macroeconomic context of this movement is directly linked to the historic decision of the U. S. Federal Reserve. The monetary authority implemented the first increase in the reference interest rate in the last three years, raising the target range by 25 basis points, bringing it to the level of 3.75% – 4.00%. Official projections indicate that 16 of the 18 members of the monetary policy committee anticipate at least one more interest rate increase by the end of 2026. Although this measure was largely anticipated by the market, thus contributing to avoiding an abrupt drop in Bitcoin's price during the Fed chairman Kevin Warsh's press conference, the digital currency managed to protect the support zone at $75,000, entering a consolidation phase between $75,000 and $77,000.
Prior to this stabilization, selling pressure had been fueled by the failure of the U. S. Senate to advance the CLARITY Act. The procedural vote ended with a score of 49 to 50, leaving the proposal just 11 votes short of the 60 threshold needed to begin debate. The legislative initiative aimed to separate oversight of digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
On the daily chart, the technical structure remains fragile, even though the price remains above the critical level of $75,000. The quotation is below the middle line of the Bollinger Bands, located at $78,028, which now constitutes the first major technical barrier for buyers. At the same time, the price is approaching the lower band of this indicator, placed at $75,163. Recent testing of this zone has generated interest from investors, however a new daily session close below this level could expose the market to a deeper correction. The upper band is near the value of $80,894, an area corresponding to broader resistance that has limited previous rebounds in September.
The daily Relative Strength Index (RSI) emits mixed signals
The daily Relative Strength Index (RSI) emits mixed signals. The current RSI value is 50.77, very close to the neutral level of 50, while its moving average is higher, at 57.62. Momentum has significantly cooled from overbought conditions reached following the August offensive, but the indicator has not yet entered the oversold zone. This configuration suggests that Bitcoin is in a consolidation phase, without yet confirming a sustainable recovery. A break above the middle line of the Bollinger Bands would improve short-term structure, while a break below $75,000 would return control to sellers.
On the four-hour timeframe, technical data indicate the first signs of easing selling pressure. The MACD histogram has slightly moved into positive territory, reaching a value of 23.88, while the MACD line is at -353.28 and the signal line at -377.16. This line crossover demonstrates that short-term momentum is beginning to improve, although both components remain below zero. To transform this signal into a broader bullish reversal, buying pressure must continue.
The four-hour Supertrend indicator remains bearish-oriented, with a resistance level situated at $78,596.72. The price is also slightly below a technical level near $76,648, making the zone between $76,650 and $77,000 the first obstacle for buyers. A close above this range would allow testing the $77,300 level, followed by Supertrend resistance at approximately $78,600. If the price fails to surpass $77,000, it will remain vulnerable to a new test of support at $75,000.
The liquidation map of leveraged positions, visible on the CoinGlass platform for the last three days, highlights a dense band of positions located between $76,800 and $77,000. Another significant concentration exists between $77,500 and $78,000. Liquidity becomes thinner around the $80,000 value, with additional clusters extending toward $82,000. Traders closely monitor these zones, as forced position closures can accelerate price movements once the price enters a dense liquidation zone.
Cryptocurrency trader Daan Crypto Trades observed that Bitcoin has already cleared most of the liquidity below the market when it sweptthe August lows. He identified the $80,000 and $82,000 levels as the largest remaining clusters within the current range. The largest remaining liquidity clusters in this range are at 80K and 82K,he stated. These targets remain distant, however, as Bitcoin trades around the $76,000 level. A recovery through $77,000 and $78,600 will be necessary before upper liquidity zones become immediate objectives.