Bitcoin price rebounds fizzle as moving averages hinder upside momentum
Bitcoin holds $81.2K support but fails to break higher.
Bitcoin price recently bounced off the $81,200 level for the third time in three weeks, a price floor that continues to attract buying interest.
But despite repeated rebounds, the cryptocurrency is struggling to sustain any meaningful upside, raising fresh questions about the strength of buyer conviction and where the price might head next.
As of Saturday, April 5, Bitcoin is trading around $83,400, down 0.9% on the day from an intraday high of $84,100. The mild pullback began during the Asian session and extended into early European trading. Although the 0.9% decline isn’t significant, it adds to the broader picture of weak follow-through on recent upswings.
BTC price dynamics (Dec 2024 - April 2025). Source: Tradingview
The $81,200 level has now been tested three times within three weeks, reinforcing it as a key support. However, Bitcoin’s efforts to push higher remain capped by the 50 and 100-day exponential moving averages. Both EMAs are tilted downward and continue to act as short-term resistance, shielding any upside to the $90,000 zone.
On-chain data reflects exhaustion as BTC remain locked under 90k resistance
According to Glassnode, Bitcoin’s Realized Profit/Loss Ratio has dipped below 1 during each of the recent lows, indicating that loss-taking has outweighed profit-taking. Historically, such dips tend to reflect seller exhaustion. When this ratio falls below 1, downside pressure often subsides as selling interest is absorbed by the market, creating the conditions for local bottoms.
Indeed, these signals have aligned with Bitcoin’s recent rebounds. However, the rebounds themselves remain short-lived, failing to carry the price toward new highs or even retest the $90,000 resistance. The presence of downward-sloping EMAs and lack of momentum past intraday peaks suggest that while sellers may be retreating, buyers are not aggressively stepping in either.
Unless Bitcoin can break and hold above the moving average cluster below $90,000, the broader price structure remains tilted sideways to lower. Until then, $81,200 stands as the key battleground level, one that continues to hold, but doesn’t yet push the price anywhere decisive.
Bitcoin dropped over 6% to $82,200 after Trump confirmed new trade tariffs. It later bounced to $83,500, but sentiment stayed cautious, with the Fear & Greed Index at 44.
