Bitcoin Price Declines Below $80,000 with Resistance at $80,500
Bitcoin Price Update
- Bitcoin declined below $80,000 and $81,200 levels.
- Current trading price is below $81,500 and the 100 hourly Simple Moving Average.
- Resistance is forming near $80,400 due to a bearish trend line on the BTC/USD hourly chart.
- Recent low recorded at $74,409; recovery initiated above $76,800.
- Immediate resistance levels are at $80,400, $81,500 (76.4% Fib retracement), and $82,500.
- Support levels are at $79,500, $78,000, and $76,500.
- A breach above $82,500 may lead to further gains, potentially reaching $85,000.
- If resistance at $80,500 holds, Bitcoin may decline towards $75,000 or lower.
Technical indicators show MACD gaining bullish momentum and RSI above 50.
