- Technical Analysis: Bitcoin price declines as sellers tighten their grip.

Bitcoin is trading at $81,346, maintaining a short-term bullish bias as the price remains well above the 50-day and 100-day exponential moving averages (EMAs), which are clustered around $75,206 - $76,200, while still being below the 200-day EMA at approximately $82,153.
The Moving Average Convergence Divergence (MACD) chart remains in positive territory on the daily chart, and the Relative Strength Index (RSI) hovers just below the overbought zone at 69, indicating strong bullish momentum, although the high reading suggests that further gains may become more difficult as the price approaches the upper supply level.
Daily chart of the BTC/USDT pair
On the upside, the 200-day EMA at $82,153 reinforces the immediate resistance level. A decisive daily close above this level would open the door for further upside continuation. On the downside, initial support is seen at the 100-day EMA near $76,200, with the 50-day EMA at $75,206 serving as an additional support layer. As long as buyers maintain this EMA range during pullbacks, declines are likely to be considered corrective within the prevailing bullish trend.
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