Bitcoin Stuck Between Bullish Trend and Cooling Momentum

Bitcoin's price teetered around $79,715 on Saturday, September 5, as bulls and bears engaged in a fierce battle after a rejection from $82,281. The market is currently stuck between its strong longer-term trend and short-term momentum, which appears to be running out of steam.

The daily chart shows that Bitcoin's price remains above every listed simple moving average (SMA) and exponential moving average (EMA), with $80,000 acting as the first recovery hurdle. However, the 4-hour chart reveals a cooling in momentum, with the relative strength index (RSI) dropping from above 70 to the low 50s.

Despite this cooling, the oscillator tape still shows a neutral reading, with two negatives and nine neutrals across various indicators. The moving-average stack remains bullish, clocking 13 bullish signals and one bearish signal.