Bitcoin ($BTC ) is currently taking a breather after an aggressive multi-day push that lifted price action from the mid-$64,000s up toward local highs touching $79,500 – $80,000. Following an intense 25% run throughout August, momentum has entered a consolidation phase, with the price currently hovering in the $78,500 to $79,500 range.
The market is currently absorbing heavy whale profit-taking near the upper resistance block alongside ongoing daily spot ETF inflows. Trading volume remains high across exchanges as buyers attempt to consolidate gains above key moving averages to preserve the broader bullish structure.
Where things stand on the chart
On the downside: The immediate floor to watch sits right around $77,500 – $78,000. If localized selling pressure picks back up and breaks through $77,500 on a daily close, price could easily slide lower toward the $74,000 – $74,800 breakout retest zone.
On the upside: Lower timeframes are showing buyers actively defending local dips to absorb sell-side distribution. If bulls step in and secure a clean daily close above the $80,000 – $80,500 hurdle, it could kick off the next expansion leg targeting the $82,800 – $85,000 supply zone.
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$LAB
$ESPORTS #OktaCrowdStrikeSurgeOnEarningsBeat #BestBuyQ2RevenueTopsEstimatesLiftsOutlook #KospiClosesAtRecordHigh #bitcoin #BTC
The market is currently absorbing heavy whale profit-taking near the upper resistance block alongside ongoing daily spot ETF inflows. Trading volume remains high across exchanges as buyers attempt to consolidate gains above key moving averages to preserve the broader bullish structure.
Where things stand on the chart
On the downside: The immediate floor to watch sits right around $77,500 – $78,000. If localized selling pressure picks back up and breaks through $77,500 on a daily close, price could easily slide lower toward the $74,000 – $74,800 breakout retest zone.
On the upside: Lower timeframes are showing buyers actively defending local dips to absorb sell-side distribution. If bulls step in and secure a clean daily close above the $80,000 – $80,500 hurdle, it could kick off the next expansion leg targeting the $82,800 – $85,000 supply zone.
Click here to see more 👇
$LAB
$ESPORTS #OktaCrowdStrikeSurgeOnEarningsBeat #BestBuyQ2RevenueTopsEstimatesLiftsOutlook #KospiClosesAtRecordHigh #bitcoin #BTC
