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      Bitcoin Price Faces Resistance as Technical Indicators Shift

      Bitcoin's price has shown a downward trend as it struggles to overcome significant resistance levels. After a rally that began on August 19, when the price moved above its 100-day and 200-day moving averages, the cryptocurrency encountered selling pressure within a key swing area between $80,560 and $82,833. This zone has historically attracted sellers, indicating a potential reversal in momentum as the market enters September.

      The failure to break through the resistance levels, including the 38.2% retracement level at $83,916, has shifted the technical outlook to a bearish stance. Analysts note that the inability to surpass these critical points suggests that the recent recovery may merely be a correction within a broader decline. For buyers to regain control, Bitcoin must rise above $82,833 and subsequently clear the retracement level.

      In the short term, Bitcoin's price has dipped below its 200-hour moving average at $79,007, reinforcing a bearish sentiment. A recent attempt to retest this moving average resulted in further declines, as sellers emerged, confirming the shift from support to resistance. The 100-hour moving average, positioned just above, adds to the resistance cluster, indicating that unless Bitcoin can reclaim these levels, the downward pressure is likely to persist.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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