Bitcoin trades near $79,700 on Saturday after a rejection from $82,281, leaving the $78,500-$80,000 zone as the key battleground. Short-term momentum is cooling even as the longer-term trend stays bullish, while a separate 40% rally from July's low has reopened the debate over whether the coin can reach $100,000 this year.
Bitcoin is trading above $79,700 per coin on Saturday, Sept. 5, after bulls and bears fought to a standstill following a rejection from $82,281. The coin has logged a 0.26% 24-hour gain at $79,715, putting the $78,500-$80,000 range front and center this weekend.
Momentum Cools After the $82,281 Rejection
On the 1-hour chart, bitcoin swung into a wick at $82,281 before a large red candle and a volume spike stalled the move, with candles then tightening around the $79,500-$79,800 range. Bids are thinning below $79,500 while asks stack from $80,000 into the low $82,000s.
The 4-hour relative strength index climbed above 70 near the high before cooling into the low 50s on Sept. 4 readings, and the daily oscillator board logs two negatives, nine neutrals and zero positives. That points to fading momentum rather than a confirmed reversal.
Longer-Term Trend Still Favors Bulls
Even so, bitcoin's price sits above every listed simple and exponential moving average from 10 through 200 periods, and the daily moving-average stack shows 13 bullish signals against one neutral and one bearish reading. Support sits at $78,706-$78,751, followed by roughly $78,125. A daily close through $81,250-$82,281 would signal renewed continuation, while a sustained close below roughly $78,125 opens $76,000 as the next area.
A 40% Rally Reopens the $100,000 Debate
The move follows a sharp recovery: bitcoin has rallied roughly 40% from its July 1 intraday low of approximately $57,748 to trade in the $79,000-$81,000 range in early September. August delivered roughly a 25% gain, its strongest August since 2017. Even after that run, the price remains more than 35% below the 2026 all-time high of approximately $126,198.
Prediction markets Kalshi and ForecastEx currently price the probability of bitcoin exceeding $100,000 by the end of 2026 at around 28%, or roughly three-to-one odds against. Institutional capital flowing through spot Bitcoin ETFs has provided a floor under prices through the summer, but the thick layer of supply overhead below the all-time high could cap the next leg toward six figures.
Sources: Bitcoin News, Crypto Briefing
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