Bitcoin began the week slightly lower after gaining more than 4% last week, with the cryptocurrency trading below $83,000 on Monday. Ethereum also fell under $2,700, while XRP consolidated around $1.500 as traders assessed whether the recent rally can continue.
The immediate focus remains on Bitcoin’s ability to regain momentum toward $85,000. A sustained move above that level could strengthen the case for a continuation of last week’s advance, while further consolidation would suggest that investors are taking a more cautious approach.
Bitcoin remains above major trend indicators
Despite Monday’s pullback, Bitcoin’s broader short- and medium-term technical structure remains constructive. BTC is trading above its 50-day, 100-day and 200-day exponential moving averages, which are positioned at $77,323, $73,931 and $74,253 respectively.
These averages represent potential support areas if selling pressure increases. A decline toward the 50-day EMA would mark a more significant test of the latest rally than the move below $83,600, while the longer-term averages near $74,000 could become relevant in a deeper retreat. Additional horizontal support is located around $66,500 and $62,300.
Momentum cools but remains positive
Bitcoin’s relative strength index was near 61, indicating positive momentum without reaching levels commonly associated with overbought conditions. The moving average convergence divergence indicator has weakened from its recent strength but remains slightly positive.
The combination suggests that the upward trend is still intact, although its momentum has moderated. Bitcoin’s reaction around $83,000 and its next attempt at $85,000 may offer a clearer signal about market direction. A failure to reclaim the resistance level could leave BTC trading sideways, while a renewed push above it would indicate that buyers remain willing to extend last week’s gains.
Ethereum’s move below $2,700 and XRP’s consolidation around $1.500 point to a more subdued start across major cryptocurrencies. For now, Bitcoin’s response to the $85,000 resistance level is likely to remain a key gauge of broader market appetite.
