$BTC Holding Strong Near $78,500 đ
Bitcoin is trading around $78,200 â $78,600 after briefly touching nearly $79,500 this week. It just delivered its strongest weekly performance in over two years.
Technical Snapshot:
âą Support: $76,500 â $77,000
âą Stronger support: $74,000 â $75,000
âą Resistance: $79,500 â $80,000
âą Momentum: Strongly bullish but overbought on short-term timeframes after the vertical move.
The Setup:
BTC has fully broken out of the long $60Kâ$70K range. The $2.7B short squeeze + Treasury buyback announcement created a powerful upside cascade. Price is now consolidating just below the psychological $80K level.
August Targets (rest of the month):
Most likely: $80,000 â $82,500 Stretch target if momentum continues: $85,000 Polymarket currently assigns ~85% probability of hitting $80K this month
As long as $76,500â$77,000 holds on any pullback, the path of least resistance remains higher into month-end.
#BTC #bitcoin #crypto
Bitcoin is trading around $78,200 â $78,600 after briefly touching nearly $79,500 this week. It just delivered its strongest weekly performance in over two years.
Technical Snapshot:
âą Support: $76,500 â $77,000
âą Stronger support: $74,000 â $75,000
âą Resistance: $79,500 â $80,000
âą Momentum: Strongly bullish but overbought on short-term timeframes after the vertical move.
The Setup:
BTC has fully broken out of the long $60Kâ$70K range. The $2.7B short squeeze + Treasury buyback announcement created a powerful upside cascade. Price is now consolidating just below the psychological $80K level.
August Targets (rest of the month):
Most likely: $80,000 â $82,500 Stretch target if momentum continues: $85,000 Polymarket currently assigns ~85% probability of hitting $80K this month
As long as $76,500â$77,000 holds on any pullback, the path of least resistance remains higher into month-end.
#BTC #bitcoin #crypto