Bitcoin resists bearish pressure at $78,000, Ran Neuner notes

Bitcoin resists bearish pressure at $78,000, Ran Neuner notes
Bitcoin holds above $78,000 level

Bitcoin has maintained higher lows despite several bearish catalysts over the past two months, according to Ran Neuner. He highlighted that the 100-day simple moving average has now flipped to support for BTC. Neuner stated this is not the same move as previous rallies and indicated a live event is scheduled to discuss these insights in one hour.

Neuner has previously described how the Iran war erased $12 trillion from global markets and pushed the S&P to a historically weak start, according to a recent note. In an earlier analysis, he observed Bitcoin holding firm above other pressured asset classes and identified a possible $77,000 price level during a live review. These past assessments set the context for his current outlook on Bitcoin’s resilience.

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