Bitcoin takes back $83,500 on Monday after a sharp correction, with the Crypto King slipping below $81,000 the previous week. Ethereum and Ripple followed Bitcoin’s trajectory, recovering and reclaiming the $2,500 and $1,400 levels after a pullback last week. The price action of these top three cryptocurrencies indicates that upside traction is diminishing, even as the overarching structure continues to receive support.
Bitcoin price trades at $83,688 on Monday, maintaining a positive bullish outlook as it remains comfortably above the 50-day, 100-day, and 200-day exponential moving averages which are situated between approximately $75,700 and $80,200. The mildly positive Relative Strength Index around 55 indicates steady but not overstretched upside momentum. Meanwhile, the Moving Average Convergence Divergence indicator remains below the zero line, suggesting that the latest recovery is still correcting prior weakness rather than signalling an outright momentum breakout.
On the topside, immediate resistance aligns with the horizontal barrier at $85,000, where a daily close above would open the way for a more decisive continuation of the uptrend. On the downside, initial dynamic support appears at the 50-day EMA near $80,195, followed by the 100-day EMA at $76,411 and the 200-day EMA at $75,744; a deeper pullback could then target earlier horizontal cushions at $66,500 and $62,300, which guard the broader bullish structure.
