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

Bitcoin traded near $82,800 on Wednesday after a modest recovery in the prior session as selling pressure eased. It remained above its 50-day exponential moving average at $80,769 and its 200-day EMA at $76,090. Its daily MACD was approaching a bullish crossover above its signal line, an unconfirmed signal that downward momentum may be fading, while the relative strength index stood near 51, slightly above neutral. Upside resistance was at $89,337, the 78.6% Fibonacci retracement drawn between $57,800 and $97,924; a sustained move above it would bring $97,924 into focus. Ethereum and XRP also held steady after bullish daily closes.