Bitcoin Stuck in Consolidation as Resistance Zone Holds

Bitcoin is consolidating in the $80K area after its recent recovery from the $60K region. The cryptocurrency has reclaimed both major moving averages, with the 200-day and 100-day averages sitting at around $70K and $66K respectively.

The immediate obstacle to further gains is the significant resistance zone near $80K-$82K, which has repeatedly capped recent price movements. A decisive daily close above $82K would strengthen the bullish case and potentially expose the next major resistance area around $95K.

The Relative Strength Index (RSI) has cooled down from its overbought reading above 80, indicating a loss of upside momentum. The RSI is also making lower highs while Bitcoin tests or approaches previous highs, creating a bearish momentum divergence.