Bitcoin rebounds 6% to $81,300, eyes $83,000 test

Bitcoin (BTC) rallied roughly 6% over the past 24 hours, trading near $81,300 and hitting an intraday high of about $81,741. The move lifted the price to its highest point in two weeks after recovering from below $77,000.

Technical backdrop

On the 4‑hour chart the Supertrend indicator flipped bullish, placing support near $78,677. The Aroon indicator showed strong upward bias (Aroon Up 85.71%, Aroon Down 21.43%). Daily RSI rose to 64.48, indicating bullish momentum without yet entering overbought territory.

Short‑squeeze dynamics

Leveraged short positions were forced to cover as prices rose, generating more than $250 million in short liquidations in the last day. This buying pressure helped Bitcoin break through $78,000 and $80,000 resistance before testing the low‑$81,000 range.

Liquidity clusters

CoinGlass heatmaps show a dense band of leveraged positions between $81,800 and $82,000, just above the current price. A move above $82,000 could trigger further liquidations around $82,500–$83,000, with additional clusters near $84,000.

Key resistance levels

• $82,000 – immediate resistance and liquidation cluster.
• $83,000 – level identified by analysts as a test for bottom confirmation.
• $85,000 – next potential target if the rally sustains.

Analyst perspectives

Analyst Ted Pillows noted that a close above the 50‑week moving average and a break of $83,000 would confirm a market bottom. Analyst Gerla highlighted the $81,000–$85,000 zone as a possible support area, suggesting a longer‑term path toward $101,000–$105,000 if the zone holds.

Macro context

The rally occurred despite a week of negative sentiment from U.S. regulatory setbacks (rejection of the CLARITY Act) and a 25‑basis‑point Federal Reserve rate hike. Spot Bitcoin ETFs also saw net outflows of roughly $746 million during the midweek sell‑off. Nevertheless, Bitcoin absorbed these pressures and continued its upward move.

Outlook

A sustained break above $83,000 could open the path to $85,000 and beyond, while a rejection below $82,000 may pull the price back toward $80,000 and the $78,600 support zone.