Bitcoin News
By Steven Anderson
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Key Levels Traders Are Watching. The immediate battleground is tight. Bulls need Bitcoin to clear $80,147 to have any shot at…
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RSI, MACD, and What the Indicators Say. The RSI sits at 66.71. Not overbought, not oversold — just kind of hanging there in the middle of…
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Derivatives Market Leans Bullish, But Carefully. One thing worth watching: the derivatives market is leaning long. Call options make up 61.
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Bitcoin can't catch a break right now. The price has been grinding sideways near $80,000 all day on September 6, stuck in a narrow band after briefly touching $82,200 on…
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The range on September 6 sits between $79,750 and $80,100, with hourly candles showing almost nothing — just flat, choppy action.
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On the downside, $79,586 is the line in the sand. A clean break below that probably sends Bitcoin toward $78,650 pretty quickly.
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The 10-day and 20-day moving averages are at $78,771 and $77,231 respectively. Bitcoin is still trading above both, which keeps the daily structure technically favorable.
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The RSI sits at 66.71. Not overbought, not oversold — just kind of hanging there in the middle of the range, which fits the consolidation story perfectly.
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The ADX is at 47. That's not weak — it says a trend is there — but it's not the kind of reading that screams "breakout imminent" either.
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Related: Jobs Surprise Sends Bitcoin Below $80K as Fed Rate Odds Split 50/50
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Daily exponential moving averages are still flashing positive signals across the board, which is why most traders aren't panicking.
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The real question is whether that conviction translates into actual buying. Volume is the missing piece.
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The pattern since the September 3 high has been fairly consistent: price tries to push up, runs into resistance between $81,400 and $82,200, pulls back, stabilizes somewhere…
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See also: Bitwise CIO Predicts Bitcoin Fair Value at $224K, Supports Zcash ETF Progress
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Bitcoin's been in a holding pattern since the September 3 correction, and the $80,523 Hull moving average remains the immediate ceiling.
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