Bitcoin traded between $79,750 and $80,100 early Sunday morning, holding a tight range as weekend trading volume dropped sharply. The cryptocurrency has remained confined to this narrow band since the start of the weekend, following an earlier advance above $82,000 that failed to sustain.
On intraday charts, bitcoin moved between $79,586 and $80,147, with one-hour trading volume falling significantly during the low-activity period. A move above $80,147 could open the door to $80,335 and then $80,523, while a drop below $79,586 could send the price toward $78,650.
The broader daily trend shows bitcoin built a base between $58,000 and $64,000 over the summer before climbing to $82,239 on September 3. The price remains above its 10-day moving average of $78,771 and its 20-day average of $77,231, supporting the idea that the overall uptrend remains intact.
Weekend volume fell to $20.21 billion, down significantly from the $35 billion to $40 billion recorded earlier in the week. Technical analysis shows mixed signals: the relative strength index sits at 67, below overbought levels, while the MACD reading of 3,230 was marked bearish. However, all major moving averages from the 10-period to the 200-period remain bullish, with bitcoin trading above each one.
In the options market, calls account for 61.69% of open interest compared to 38.31% for puts. Traders are watching whether bitcoin can close above $80,335 and eventually $81,430 to retest its September high, or whether a break below $79,586 opens the door to lower levels near $78,650.
