Bitcoin stalls around the $86k range as technical signals flash mixed

Bitcoin hovers below recent highs after a modest bounce, with mixed technical signals and fading gains across leading cryptocurrencies this week.

• Bitcoin, ethereum, and ripple opened the week stronger but lost momentum, with bitcoin trading below key resistance near $86,000.
• Technical indicators suggest near-term uncertainty: RSI moved up from oversold, while MACD points to ongoing buyer activity.
• Coinbase UK’s CEO notes increased institutional involvement and pilot programs in Europe, yet medium-term bitcoin outlook stays optimistic.

Bitcoin declined slightly over the past 24 hours, trading below recent highs around $86,000, according to market data. The cryptocurrency found support at psychological price levels on Friday before staging a modest recovery.

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) opened the week with gains but have since shown fading momentum, market analysts reported. The leading cryptocurrencies are hovering around key technical levels as buyers have been unable to push prices higher in the near term.

Bitcoin’s technical analysis paints a mixed picture

Technical analysis of Bitcoin’s 4-hour chart indicates bearish conditions, with the cryptocurrency failing to overcome a key resistance barrier. If the recovery continues, Bitcoin could rally toward the next resistance level, according to technical indicators. Conversely, failure to break through resistance could lead to further declines toward key psychological support levels.

The Relative Strength Index on the 4-hour chart moved below the oversold threshold last week, suggesting declining downside pressure. The MACD indicator lines are approaching the bullish zone, indicating buyers remain active in the market.

Keith Grose, CEO of Coinbase UK, commented on current market conditions, stating, “Market conditions are shifting as institutions across Europe take a more structured and regulated approach to digital assets. We’re seeing clearer frameworks emerge, stronger infrastructure being developed, and early examples of central banks and financial institutions running controlled pilots to build practical understanding – including the Czech National Bank’s recent decision to test a small, ring-fenced portfolio of digital assets.”

Analysts maintain an optimistic outlook for Bitcoin’s price appreciation over the medium to long term, though near-term price action remains dependent on whether current support levels hold.