Bitcoin Buyers Face Moving Average Resistance

Bitcoin buyers have successfully defended key support levels at the August 21 low and the 38.2% retracement at $74,713.

However, their rebound is now facing resistance from the 100-hour and 200-hour moving averages, currently sitting at $76,840 and $77,250 respectively.

To take control of the market, buyers need to reclaim the 100-hour moving average and move above the 200-hour moving average, with a sustained break above $77,250 needed for further upside targets.

The next potential resistance zone lies between $79,837 and $81,517, with a breach above this level opening up the path towards higher prices.