Bitcoin Stalls at $80K: Is a Bigger Pullback Coming?

Bitcoin's recent price surge has shown some signs of slowing down as it approaches a major resistance zone around $80,000. The asset had broken out from a multi-week consolidation structure and reclaimed key support levels, but momentum indicators are now showing some bearish divergence.

The daily chart shows that Bitcoin broke above both the 100-day (~$67,000) and 200-day (~$70,000) moving averages, indicating an improvement in the medium-term technical picture. However, the recent price action has formed a rising wedge with higher highs just below $80,000.

The price is currently trading around $79,000 and seems to be declining toward the lower boundary of the wedge after another rejection from the resistance zone. A sustained move above $80,000 would strengthen the continuation setup and potentially expose the next major resistance around $95,000.