Momentum is Back but Can BTC Break Key EMA Resistance?

Bitcoin momentum returns as buyers defend key levels, but can BTC overcome crucial EMA resistance for higher moves?

Bitcoin (BTC) is changing hands around $68,138, marking a strong 4.6% gain over the past 24 hours. On the one-day chart, price action shows a clear upward move from roughly $65,000, followed by a breakout above $69,480 before settling into consolidation near the $68,100–$68,300 range. The intraday structure reflects buying momentum during the rally phase.

Despite the strong daily performance, the broader trend remains mixed. While Bitcoin is up 2.6% over the past week, it remains significantly lower across longer timeframes, down more than 22% over 30 days and more than 37% in the past 180 days.

The one-year performance is also negative. This suggests the current move may represent a short-term recovery within a broader corrective phase rather than a confirmed long-term trend reversal. The question now remains: Where can BTC settle next?

Bitcoin Price Analysis

Bitcoin’s price action over the past several weeks has been decisively bearish, with a strong breakdown accelerating in early February. A sequence of large red candles drove Bitcoin down below $63,000 region before buyers stepped in, producing the recent relief bounce.

The 50-day and 100-day exponential moving averages reinforce the broader bearish structure. Notably, the 50-day EMA (currently near $76,113) sits below the 100-day EMA (near $83,719), forming a bearish alignment.

Price is trading well below both moving averages, indicating that momentum remains negative on the daily timeframe. These EMAs now act as dynamic resistance levels, with the $76,000–$84,000 zone representing a significant overhead supply area that bulls would need to reclaim to signal a more meaningful trend reversal.

Momentum indicators, however, suggest that downside pressure may be easing. The MACD histogram has turned positive after an extended period in negative territory, and the MACD line has crossed above the signal line.

This shift reflects improving short-term momentum and hints at a potential bullish divergence following the steep sell-off. While not yet confirming a full trend reversal, the MACD recovery suggests that the market may be transitioning from impulsive selling to a base-building phase.

Can Bitcoin Bounce Back to $80K?

Elsewhere, an analyst on X shares an image featuring two upward-sloping trendlines forming an ascending triangle, with the lower line acting as major support already broken. 

Captain Faibik points out a key level on the weekly chart. According to him, if the weekly candle closes above the 200-period EMA (around $68,000), Bitcoin could bounce toward $80,000 soon. He expects March to be bullish overall.