This morning, BTC was down 0.02% to $29,255. A range-bound start to the day saw BTC rise to an early high of $29,298 before easing back.

Looking at the 14-Daily RSI, the 43.67 reading reflects bearish sentiment. The RSI aligns with the 50-day EMA, supporting a return to sub-$28,500. However, a move through the 50-day EMA ($29,445) would give the bulls a run at the $30,750 – $31,250 resistance band.

Looking at the 4-Hourly Chart, BTC remains below the $30,750 – $31,250 resistance band. BTC sits below the 50-day ($29,449) and 200-day ($29,647) EMAs, sending bearish near and longer-term price signals.

Significantly, the 50-day EMA pulled back from the 200-day EMA, supporting further losses. However, a BTC move through the 50-day ($29,449) and 200-day ($29,647) EMAs would give the bulls a run at the $30,750 – $31,250 resistance band.