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### Daily chart
Bitcoin has decisively broken through a long-term downtrend line, in addition to the resistance area at $66k–$67k. This breakout was followed by an exceptionally strong expansion, as the price also surpassed the intermediate resistance zone at $72k–$74k, reaching around $79k before pulling back toward $77k.
This represents a notable shift in market structure. The downtrend line had been limiting Bitcoin’s rise throughout the wider correction period, so reclaiming it alongside several horizontal resistance areas suggests that buyers have regained control—at least in the near term.
But the price is now approaching the main resistance zone at $80k-$83k, an area that was previously an important swing high and could attract profit-taking after this rapid rally. A break above $83k and the confirmation of a daily close above it would strengthen the bullish structure and could open the way toward the larger supply zone at $94k-$98k.
On the other hand, even if a correction happens after this vertical move, it does not necessarily invalidate the breakout. The former resistance zone at $72k-$74k is the first key support area to watch: holding it in the event of a pullback would reinforce the idea that this recent move represents a true structural reversal rather than just a temporary, liquidity-driven spike.
### 4-hour chart
The 4-hour chart more clearly shows the breakout’s strength: Bitcoin broke free from the converging trendline structure around $64k-$65k and accelerated in a near-vertical move to around $79.5k.
Due to the speed of this rally, the market is significantly extended beyond the breakout point, increasing the likelihood of short-term consolidation or a pullback correction. The $72k-$74k area remains the first important support zone, while Fibonacci levels on the chart provide deeper rebound points around $71.1k, $69.1k, $67.7k, and $66.3k.
The $66k-$67k area is of particular importance because it combines the former horizontal resistance zone with a broader breakout structure. Even if a deeper correction occurs toward this area, a strong demand return after it could preserve the bullish scenario.
At present, the immediate obstacle is the $79.5k peak, followed by the $81k-$83k supply zone. A period of consolidation below this resistance will be relatively constructive, while a price rejection followed by losing the $72k level could indicate that the market needs a deeper reset before attempting another upswing.
### Analysis based on blockchain data
The “Realized Price UTXO Age Bands” indicator provides additional context for the breakout, as it shows average acquisition prices for different groups of Bitcoin holders.
A key development is that Bitcoin’s rise toward $79k pushed the spot price above the realized price levels of the two short-term holder cohorts (1-3 months and 3-6 months), which sit at around $64k and $74k, respectively. This means these two cohorts have returned to largely realizing unrealized profits, reducing pressure associated with more recent buyers who were stuck in losses.
On the other hand, several older holder cohorts remain positioned significantly above the current price: the realized price average for the 18-month-to-two-year cohort is around $87k, while the 6-12 month and 12-18 month cohorts rise to much higher levels, near $95k and $105k, respectively. These levels may become more important if the recovery continues, as Bitcoin gradually approaches the average cost of holders who are still in losses.
Accordingly, the blockchain data structure improved in parallel with the technical breakout, but the recovery is not yet complete. Maintaining a level above the 3-6 month cohort cost (around $74k) will be an important positive signal, while losing it may indicate that the recent rally has moved beyond the effective support level for holders.
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