Bitcoin continued its downward movement below the $78,000 threshold during trading on September 10, 2026. This price action extends the asset’s decline from the peak of $82,280 recorded on September 3.
Technical charts place Bitcoin’s current price right below the 4-hour Supertrend indicator level at $78,203. As long as the asset’s price does not break back above that mark, market conditions indicate that sellers remain in control. The strongest resistance level for price action currently sits at $80,151, a level formed by the confluence of the previous Supertrend boundary and the recent daily high.
Anonymous crypto trader Daan Crypto Trades noted a recurring correction pattern within a tight range. “This is the fifth 4-6% drawdown in the last three weeks,” the analyst said, observing that Bitcoin’s price continues to fluctuate inside the $76,000 to $81,000 corridor.
Technical Indicator Sell Signals
The daily price decline was immediately confirmed by the MACD indicator, which recently formed a bearish crossover. The main MACD line dropped to 2,357, falling well below the signal line sitting at 2,956. This condition is also accompanied by negative histogram bars sinking to -598.
The daily Relative Strength Index (RSI) also slipped to 57.24, dropping from its previous moving average level that stood at 66.20.
US Macro Factors
On the macroeconomic front, market tracker @WatcherGuru on X noted that the 30-year US Treasury yield just touched 5.35% - its highest point since June 2007. Supplementary data from crypto.news showed the 10-year yield at 4.86%, while other 30-year yields hovered around 5.31%.
Elevated bond yields are pressuring the market as investors await the release of US Producer Price Index and Consumer Price Index inflation data. These inflation figures will play a decisive role in the Federal Reserve’s next policy move at its upcoming interest rate meeting scheduled for September 15 and 16.
Global crude oil prices holding above $100 per barrel have also stoked fears of persistent inflation. High energy prices give the US central bank an incentive to maintain benchmark interest rates in the 3.50%-3.75% range, or potentially opt for a 25 basis point rate hike.
Reading the Liquidation Map
Market participants using heavy leverage are currently stacking trading positions on both sides flanking Bitcoin’s price range. A dense cluster of liquidation levels for long positions is concentrated tightly in the $77,300 to $77,600 area, while liquidation points for short sellers wait above the $81,000 mark.
A breakout on the daily chart beyond either the $76,000 lower boundary or the $81,000 upper boundary will provide the clearest direction for Bitcoin’s next move. Monitoring how firmly the lower liquidation support holds could provide more tangible directional guidance than simply awaiting the final decision from central bank policymakers.
Reported by crypto.news.
Also read: How to Read Candlesticks for Beginners
Also read: Bitcoin Drops to $78,524 as Oil Nears $100 - Ironically, Markets Bet 57% on Fed Rate Hike
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
