Bitcoin Trapped in $77.5K-$82.2K Range, Eyes Breakout or Breakdown

Bitcoin is stuck in a tight range between $77.5K and $82.2K, with its price hovering around $79,679.

The cryptocurrency's 5-hour chart shows a tense standoff near this level, with the price caught between bullish momentum and warning signs of consolidation.

Short-term direction will hinge on a breakout from this range, as momentum indicators cool and traders brace for a decisive move.

Bulls retain control due to Bitcoin being above its long-term uptrend levels (SMA200 at $70,243), but indecision reigns as the price is stuck midway between cloud and range resistance.