Bitcoin Maintains Strength Above $80,800 Ahead of NFP Report

Bitcoin maintained its strength above $80,800 as traders awaited the U.S. Nonfarm Payrolls report for direction on the market's next move. The cryptocurrency has extended its weekly gains alongside Ethereum and XRP.

The broad uptrend in Bitcoin remains well-supported by its exponential moving averages. However, the wide gap between the current price and these averages leaves room for a potential correction if traders take profits following the recent advance.

BTC faces resistance at $85,000, with fresh selling pressure emerging around this level as traders take profits and previously sidelined sellers enter the market. A decisive daily close above $85,000 would signal that buyers remain in control and could open the door to further gains.