Bitcoin price tests $83K support as 4-hour MACD turns bearish

Bitcoin price fell to about $83,450 on Sep. 25 after a rally above $87,000 earlier in the week gave way to a narrower trading range. The pullback comes as traders weigh a quarterly options expiry against higher U.S. Treasury yields.

According to the daily Bitcoin price chart, $BTC traded near $83,476 after reaching $85,255 during the Sep. 25 session. The price was still above the chart’s 20-day Bollinger Band midpoint at $79,951, despite retreating from an upper band near $86,724.

The decline followed a sharp move earlier in the week that carried Bitcoin above $87,000. The daily chart showed the relative strength index at 62.03, down from the higher readings reached during the rally but still above the neutral level of 50.

Bitcoin holds above $83K as the 4-hour MACD weakens

Bitcoin’s 4-hour chart showed the price falling from the $86,000–$87,000 area and then trading mostly between $83,000 and $85,000. Its latest candle on the chart opened at $84,583, fell to $83,183, and traded near $83,454.

The 4-hour MACD line stood at 251.25, below its signal line at 551.84. Its histogram reading of minus 300.59 showed that short-term momentum had weakened after the earlier advance. The Awesome Oscillator remained positive at 154.98, although its bars had narrowed toward zero.