Bitcoin finds willing sellers near resistance targets, and the technical tilt shifts down.
Bitcoin made an early push higher today, extending to a session high of $77,882. That move briefly carried the price above both the 100- and 200-hour moving averages near $77,400—a key barometer for buyers and sellers. However, the break lacked follow-through. Momentum stalled, and the price has since rotated back to the downside, putting sellers back in control for now.
On the downside, the next key target comes in near $75,850—defined by Tuesday’s low and the now-broken 38.2% retracement of the 2026 trading range. That level is critical. Moving below keeps the pressure on the downside, and a clean break would likely open the door for further selling momentum. Below that, the 100-day moving average at $72,638 becomes the next major downside target and a level where buyers may look to make a stand.
For buyers to regain control, the price needs to move back above the 100- and 200-hour moving averages and hold. That would shift the short-term bias back to the upside and force sellers to rethink their positions. If that happens, resistance comes in near $79,500—the highs from earlier this week and last week—which sit just below the psychological $80,000 level.
That $80,000 area is not just a round number—it also aligns roughly with the 50% midpoint of the 2026 trading range at $80,070. A move above that level would represent a stronger bullish shift, opening the door for a run toward the falling 200-day moving average near $84,399.
Key levels:
- Resistance: 77,400 (100/200H MAs), 79,500, 80,070 (50% midpoint), 84,399 (200D MA)
- Support: 75,850 (38.2% + Tuesday low), 72,638 (100D MA)
The battle lines are clear: below $75,850 keeps sellers in control, while a move back above $77,400—and especially $80,070—would tilt the bias back in favor of the buyers.
This article was written by Greg Michalowski at investinglive.com.