Market Pulse: Bitcoin Price Teeters Near $80K as Momentum Starts to Crack

According to recent market coverage, bitcoin is trading above $79,700 per coin on Saturday, Sept.

5, as bulls and bears duke it out following a rejection from $82,281, putting the $78,500-$80,000 zone front and center in this week’s volatile market environment.

Bitcoin’s price has logged a 0.26% 24-hour gain at $79,715 and is clocking a rolling range of $78,706-$79,848, leaving the bitcoin market caught between a strong longer-term trend and short-term momentum that is running out of steam.

On Saturday, the 1-hour bitcoin price chart shows BTC shifting from a wild ride into a tight waiting game.

Bitcoin came out swinging into a wick at $82,281 before a large red candle and the session’s volume spike put the brakes on the move.

Buyers bounced back, but the recovery stalled below $80,000, as candles tightened around the $79,500-$79,800 range.

A great deal now hinges on the $79,500 zone, especially with bids thinning below that area and asks stacking from $80,000 into the low $82,000s.

Holding $79,500 and pushing through $80,000 puts $81,000-$81,500 in the cards.