Bitcoin holds near $83k as easing bearish momentum puts $89,337 in focus

Key takeaways Bitcoin traded around $82,800 on Wednesday, maintaining gains from the previous session. BTC remains above its 50-day and 200-day EMAs, supporting a constructive technical backdrop. Support lies at $80,769, with deeper levels at $77,862 and $76,090. Bitcoin stabilizes after bullish daily close Bitcoin held near $82,800 on Wednesday after a modest recovery the previous day, as easing selling pressure supported hopes of further gains. Ethereum and XRP also remained steady following bullish daily closes, according to the report. However, the supplied technical analysis focuses on Bitcoin. BTC continues to trade above its 50-day Exponential Moving Average at $80,769 and its 200-day EMA at $76,090. Holding those levels preserves a constructive backdrop, although buyers still need stronger momentum to sustain an extended rally.

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