Bitcoin slipped below $80,000 over the weekend, sweeping the $79,621 support level before slowly rebounding to trade just above $80,000 on Monday.
The bearish performance comes as selling pressure persisted across major cryptocurrencies following three straight weeks of losses.
BTC is currently trading at approximately $80,044, while Ethereum and XRP followed the market lower, changing hands around $2,321 and $1.28.
The continued retreat leaves buyers struggling to regain control. Bitcoin’s technical indicators suggest that recovery attempts remain fragile, increasing the risk of another move toward lower support levels.
Bitcoin price forecast: BTC trades below its 50-day EMA
Bitcoin remains below its 50-day Exponential Moving Average at $80,787, making that level the first significant obstacle to a recovery.
However, the cryptocurrency continues to trade above its 100-day EMA at $77,677 and its 200-day EMA at $76,300.
These longer-term averages provide support and help preserve its broader bullish structure despite the recent decline.
The current setup places Bitcoin between overhead resistance and two important support levels.
A sustained recovery above the 50-day EMA would ease immediate pressure, while further losses would bring the longer-term averages into focus.
Bitcoin’s Relative Strength Index stands at 41, below the neutral 50 level. The reading indicates subdued buying momentum and suggests sellers retain the advantage.
The Moving Average Convergence Divergence indicator reinforces that cautious outlook. The MACD remains negative and below its signal line, while its weak histogram offers little evidence of a convincing bullish reversal.
Together, these indicators suggest that Bitcoin’s position above its longer-term moving averages has yet to translate into stronger buying activity. Upside attempts could continue to encounter selling pressure unless momentum improves.
Bitcoin price: $76,000 remains key support level to watch
If the current bearish trend persists, the first major downside level is the 100-day EMA near $77,677.
A move toward that area would test whether buyers can stabilize the market following the break below $80,000.
Below it, the 200-day EMA at approximately $76,300 represents a more consequential support level. The Transactional Liquidity (TLQ) at $74,755 is another major demand zone on the daily timeframe.
A daily close beneath this average would significantly weaken Bitcoin’s medium-term bullish structure and raise the risk of a deeper correction.
Holding these levels would help preserve the broader trend, although a stronger recovery would still require Bitcoin to overcome nearby resistance.
However, if the bulls regain control of the market, Bitcoin’s immediate challenge is to reclaim the 50-day EMA around $80,787. A sustained move above that level would be an initial sign that selling pressure is easing.
Beyond it, the next major resistance sits at $85,000, where previous selling activity could limit further gains.
For now, Bitcoin’s weak momentum keeps the near-term outlook cautious. Investors using investment apps to track cryptocurrency markets will be watching whether BTC can reclaim key resistance levels.
Other leading cryptocurrencies, including Ethereum and XRP, are also under pressure, with further losses possible if Bitcoin’s bearish trend persists.
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