The $82,000 battle: bitcoin tests key resistance zone to form next major breakout

BTC is fighting a technical battle as it trades just below two closely watched long-term trend indicators: the 200-day Simple Moving Average and the 200-day Exponential Moving Average. What to know : Bitcoin is trading just below the 200-day SMA of $82,455 and the 200-day EMA at $82,027, forming a major resistance zone that could determine whether the long-term uptrend resumes. The 200 SMA and 200EMA form a confluence resistance zone around $82,000–$82,500 that bitcoin must convincingly reclaim to signal a recovery of its long-term uptrend. Despite the rejection at the 200-day averages, bitcoin remains above the 128DMA, the True Market Mean, and the Short-Term Holder Cost Basis, signaling that most recent buyers are still in profit and reducing the risk of panic-driven selling.(Coindesk)