Bitcoin's $81K Barrier: Will the Cryptocurrency Crash or Continue to Consolidate?
Bitcoin's latest price surge has stalled at $81K, a key resistance area that it has failed to breach on multiple occasions. The cryptocurrency is currently trading near $79K, consolidating after a sharp breakout from a multi-week consolidation structure.
The daily chart shows a decisive breakout from the consolidation range below $67K, with Bitcoin reclaiming this resistance zone and accelerating higher through the $72K-$74K area before reaching its current region near $80K. The asset has also moved back above both the 100-day (~$67K) and 200-day (~$70K) moving averages, which are turning upward, suggesting an improvement in the medium-term structure.
However, a bearish divergence between price and momentum is starting to emerge, as the short-term RSI has been trending lower while the price was making higher highs. This could indicate that buying pressure is getting exhausted, potentially leading to a period of sideways consolidation before another breakout attempt.