Bitcoin price eyes $83K after clearing 200-day SMA

Bitcoin price held near $79,500 on Aug. 27 after a rapid breakout from the $63,000 area, with ETF demand and U.S. policy developments supporting the rally even as technical indicators warned that momentum may be stretched. Summary Bitcoin price traded near $79,500 after gaining roughly 25% from its mid-August consolidation range. Daily RSI reached 81.14, placing BTC firmly in overbought territory. The 4-hour Supertrend remained bullish while MACD showed fading short-term momentum. Liquidation clusters near $81,000 and $77,500 could shape Bitcoin’s next move. Bitcoin price holds above its breakout zone According to data from crypto.news, Bitcoin (BTC) price was trading at approximately $79,473 at the time of writing. The price reached an intraday high of $80,520 after opening near $79,024. BTC has gained roughly 25% since breaking out of a narrow range near $63,000 on Aug. 19. The advance took the asset above $80,000 before sellers blocked attempts to extend the rally through the $81,000–$82,000 region. The daily chart shows Bitcoin trading above its four tracked simple moving averages. The 20-day SMA stood at $69,711, while the 200-day SMA was near $69,257. The 50-day and 100-day a...