Bitcoin Teeters at $80K as Momentum Begins to Wane

Bitcoin's price has been hovering around $80,000 as momentum begins to slow down. The 1-hour chart shows a tight waiting game, with buyers unable to push through the $79,500-$80,000 range. A break above this level could put $81,000-$81,500 back in play, while a close below $78,700 exposes $76,000.

The 4-hour chart shows a momentum reset rather than a completed trend reversal. The relative strength index (RSI) has cooled down from the high 70s to the low 50s, indicating that buyers are losing steam. However, the RSI remains below the overbought level of 70, and the trend is still present.

The daily chart shows a bigger trend that remains firmly tilted toward buyers. Bitcoin's price sits above every listed simple moving average (SMA) and exponential moving average (EMA), with $80,000 acting as the first recovery hurdle. A reclaim of this level would get momentum picking up steam, while a sustained close below roughly $78,125 opens $76,000 as the next deeper area.