Bitcoin price risks $74K drop as 50-week EMA faces test

Bitcoin price extended its pullback toward $77,000 as rising oil prices, stubborn US inflation and higher Treasury yields reduced demand for risk assets. Technical charts now place BTC near a major weekly support level, while short-term momentum remains bearish. Summary Bitcoin price traded near $76,800 after losing the $78,000 support area. The 4-hour RSI fell to 34.25 as the Supertrend turned bearish. A weekly close below the 50-week EMA could expose the $72,000–$74,000 zone. Liquidation clusters near $80,000 could fuel a rebound if BTC reclaims $78,000. Bitcoin price action today According to data from crypto.news, Bitcoin (BTC) price traded near $76,800 at the time of writing, down from a 4-hour opening price of $77,230. The token reached $77,500 before sellers pushed it to a session low of $76,800. The latest move extended a decline from the Sept. 4 local high near $82,280. Bitcoin has since formed a series of lower highs and lost the short-term support zone between $78,000 and $78,200. The daily chart showed a small intraday recovery from a low of $76,563, but BTC remained below its 20-day simple moving average at $78,601. A daily close below that average would keep short-ter...