Bitcoin Price Clings to $80K While 9 Moving Averages Favor Bears

Bitcoin’s price is clawing its way back toward $81,000, but the technical picture remains a tug-of-war between determined buyers and stubborn sellers. Trading near $80,274, bitcoin faces immediate resistance at $80,500 to $80,900, while nine moving averages favor the bears. The $79,146 swing low is the critical line in the sand. A decisive break beneath that level risks opening the door to $78,000, while a recovery above $82,000 would strengthen the bullish argument. Bitcoin’s price is staging a spirited fight around $80,000 on Monday morning but the charts suggest the bulls haven’t wrestled control away from the bears just yet.

Source: Bitcoin.com News