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<a href="https://xpertsstudio.com/bitcoin-miners-find-their-power-is-worth-more-to-ai/” title=”Bitcoin Miners Find Their Power Is Worth More to AI”>Bitcoin spiked to 79,570 before starting to pull back, with the price currently hovering around 76,900. The 4-hour MACD red bars are visibly shrinking, indicating weakening bullish momentum. KDJ has turned downward, signaling the start of a short-term correction. The next resistance is at the recent high of 79,570, with support near 76,000. On the 4-hour chart, the price is in a weak consolidation after surging, while on the hourly chart, the trend is even clearer. There have been consecutive bearish candles on the hourly chart, the MACD has turned red, showing the bears are gaining strength, and the RSI is dipping to low levels, entering an oversold range. This drop from 79,570 is mainly due to short-term profit-taking, and any rebound is likely to be a corrective move.
On the short-term small time frames, the price bottomed out near 76,665 before making a slight rebound. The 15-minute indicators have improved slightly, with a minor bounce in the RSI, reflecting a short-term need for a small rebound, though the room for upside is limited. This is a consolidation correction during the downtrend. Fundamentally, the market is about to face the Federal Reserve interest rate decision, so there is considerable wait-and-see sentiment and capital is hesitant to take aggressive positions. Bitcoin is currently in a consolidation phase after dropping from its highs. The immediate upside resistance is at 78,000, with strong resistance still around 80,000, and firm support at 76,000.
Trading strategy: Before the Federal Reserve decision, market volatility is likely to increase and heavy positions are not recommended. Do not chase the price on short rallies—watch for potential resistance levels on a rebound and act accordingly. If 76,000 support breaks, further downside should be expected. Ahead of key news, prioritize position management, use stop-losses, and beware of sharp price spikes.
Mr. Coin’s Commentary: Bitcoin Short-term Levels for September 15:
78,000–79,200: Short with a 500-point stop loss, target below 78,500
76,000–75,000: Long with target above 77,000, 500-point stop loss
All forecasts are for early reference only; please follow real-time market conditions for precise action. Strategies are for guidance only as the market can change rapidly. No matter your market confidence, always use stop loss and take profit measures to secure your gains.
Source: www.bitget.com