Bitcoin Price Teeters Near $80K as Momentum Starts to Crack

Key Takeaways

• Bitcoin’s price trades near $79,715 on Sept. 5 with $80,000 standing in the bulls’ way.
• Bitcoin’s 13 MA bullish signals keep the daily trend positive as short-term momentum cools.
• Bitcoin needs to defend $78,500 and reclaim $80,000 per unit to put $82,281 back in play.

Bitcoin’s 1-Hour Coil Puts $80,000 Squarely in the Spotlight

On Saturday, the 1-hour bitcoin price chart shows BTC shifting from a wild ride into a tight waiting game. Bitcoin came out swinging into a wick at $82,281 before a large red candle and the session’s volume spike put the brakes on the move. Buyers bounced back, but the recovery stalled below $80,000, as candles tightened around the $79,500-$79,800 range.

A great deal now hinges on the $79,500 zone, especially with bids thinning below that area and asks stacking from $80,000 into the low $82,000s.

Holding $79,500 and pushing through $80,000 puts $81,000-$81,500 in the cards. On the flip side, a 1-hour close below $79,200 exposes $78,700, while a break of $79,500 brings the $78,700-$78,500 pocket into focus.

Bitcoin’s 4-Hour Momentum Is Running Out of Steam

The 4-hour chart makes bitcoin’s price momentum reset hard to miss. The rally from the high $77,000s into $82,000 territory kicks into high gear before a high-volume rejection puts the brakes on buyers and sends BTC grinding toward $79,500-$80,000. The 4-hour relative strength index (RSI) moves above 70 around the high and cools into the low 50s on some Sept. 4 readings.