Bitcoin holds near $83k as easing bearish momentum puts $89,337 in focus
BTC when published $82,938Now $80,577 ▼ −2.85% since it was published
Bitcoin held near $82,800 on Wednesday after a modest recovery the previous day, as easing selling pressure supported hopes of further gains. Ethereum and XRP also remained steady following bullish daily closes, according to the report. However, the supplied technical analysis focuses on Bitcoin. BTC continues to trade above its 50-day Exponential Moving Average at $80,769 and its 200-day EMA at $76,090. Holding those levels preserves a constructive backdrop, although buyers still need stronger momentum to sustain an extended rally. Bitcoin’s daily Moving Average Convergence Divergence indicator is approaching a crossover above its signal line. A completed bullish crossover would strengthen the case that downward momentum is fading. For now, the signal remains unconfirmed. The Relative Strength Index stands near 51, slightly above its neutral midpoint.
First reported by CoinJournal. This page is a short excerpt; the full text is theirs.
