$TRX $TRX Bitcoin is currently trading at around $84,000, just above the 100-day EMA and facing resistance from the 200-day EMA at around $87,350. A resolution seems imminent as a result of the pressure created by this small trading range. A break above the 200 EMA would invalidate the long death cross that has hindered Bitcoin's medium-term performance, in addition to indicating positive momentum.

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The slightly declining volume on the chart is often a sign of a coiling movement, which is a prelude to explosive price action. When a clear move occurs, traders will have room to influence the price action, as the RSI is neutral at around 51.5, indicating that Bitcoin is neither overbought nor oversold.

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