Bitcoin made an early push higher today, extending to a session high of $77,882. That move briefly carried the price above both the 100- and 200-hour moving averages near $77,400—a key barometer for buyers and sellers. However, the break lacked follow-through. Momentum stalled, and the price has since rotated back to the downside, putting sellers back in control for now.
On the downside, the next key target comes in near $75,850—defined by Tuesday’s low and the now-broken 38.2% retracement of the 2026 trading range. That level is critical. Moving below keeps the pressure on the downside, and a clean break would likely open the door for further selling momentum. Below that, the 100-day moving average at $72,638 becomes the next major downside target and a level where buyers may look to make a stand.
For buyers to regain control, the price needs to move back above the 100- and 200-hour moving averages and hold. That would shift the short-term bias back to the upside and force sellers to rethink their positions. If that happens, resistance comes in near $79,500—the highs from earlier this week and last week—which sit just below the psychological $80,000 level.
That $80,000 area is not just a round number—it also aligns roughly with the 50% midpoint of the 2026 trading range at $80,070
