🚨 Bitcoin Morning Outlook (Apr 8)
Price: ~$79K
$BTC is still trapped below key resistance levels. Bulls are trying to recover after that sharp drop, but the chart screams caution. $88K-ish is the next boss level. Break above? Game on. Fail? Buckle up.
🔎 RSI + MACD Check
On the 1W and 1D charts:
🔸 RSI is cooling down, not oversold yet — room to dip OR bounce.
🔸 MACD is turning bearish on higher timeframes = momentum fading.
Short-term: Consolidation. Mid-term: Weakening trend.
🧠 On-chain Signals
📉 Exchange Reserves = still draining = long-term bullish
📊 Dormancy (Avg) = ticking up = older coins waking up
😬 NUPL = profit-taking mood
Translation? Smart money is cautious, not panic-selling… but not buying aggressively either.
📉 Derivatives Market Vibes
🔹 OI down 📉
🔹 Funding Rate = neutral to slightly positive
🔹 Whale Ratio up = big wallets active
⚠️ Low leverage, low conviction. Whales might be setting traps. Retail: Don’t FOMO into choppy waters.
🧭 TLDR: Today’s BTC Mood
🟡 Rangebound
🟠 Caution in derivatives
🟢 Long-term holders still holding
Short-term traders: Watch $78.5K–$83.7K
Breakout traders: Eyes on $87.9K
Stackers: This chop is your DCA playground. 🎯
⚠️ Disclaimer
This post is not financial advice. Always DYOR.
Markets are volatile and unpredictable.
We’re just reading the charts—not the future. 👀
