Bitcoin Price Battles Back From $77K as Bulls Eye $80K Breakout

Short‑Term Price Action

On Monday Bitcoin fell from a session high near $79,386 to a low of $77,024 before climbing back into the $78,000‑$78,500 range. Volume increased on the decline, giving the sell‑off weight, but buyers prevented the price from retesting the low during the rebound.

Key Support and Resistance Levels

Immediate support is anchored at $77,000‑$77,200, while the next resistance cluster sits around $79,300‑$79,400. A break above $79,400 could reopen the path toward $80,000, and a move past $81,500 would signal stronger bullish control.

Technical Indicators

Moving averages remain largely bullish: the 10‑period EMA at $77,001 signals a buy, and all longer‑term EMAs and SMAs (20, 30, 50, 100, 200 periods) also show buy signals. Oscillators are mixed: RSI sits at 70 (neutral), Stochastic at 81 (neutral), CCI at 58 (neutral), ADX at 43 (neutral), while momentum (MOM) shows a bearish –215 reading. MACD is bullish at 3,758.

Market Commentary

Yusuf Fakhro of ARP Digital noted that Bitcoin holding near $78,000 after a 23% surge suggests a “genuine regime shift” rather than a temporary spike. He cited short liquidations, falling perpetual open interest, and Bitcoin’s re‑capture of its 50‑, 100‑, 200‑day and 200‑week moving averages as supporting factors. Fakhro cautioned that a sharp pullback would be normal price action but maintained a bullish longer‑term outlook.