Bitcoin Price Could Revisit $80K This Month as BTC Tests This Weekly Resistance

Key Insights:

• Bitcoin price is testing a weekly confluence zone where the descending trendline meets support around $78K.
• Analysts are watching the $79K to $80K area, with $80K still in focus for this month.
• Key liquidation zones sit near $76.5K on the upside and $69.5K on the downside.

Bitcoin price moved back into focus after climbing toward a weekly resistance area near $78,000 to $79,000. The latest setup places BTC price at a key junction where a descending trendline meets horizontal support around $77,000. Traders are also watching liquidity bands that could shape the next move. That combination has kept $80,000 in view for this month if Bitcoin holds above the current zone.

Weekly Resistance Puts Bitcoin Price Near a Key Test

Bitcoin’s price is testing weekly levels for the first time in four months. Market charts shared by Ash Crypto show BTC pressing against a descending trendline while sitting near horizontal support at $77,000. That area now acts as the main technical pivot. A weekly close above it would place the price beyond a resistance zone that has capped recent recovery attempts.

The same setup also keeps the $85,000 to $90,000 range on the chart as an upside target. That target comes from the projected move after a confirmed break above the weekly confluence. For now, the market has not confirmed that breakout. Bitcoin price still needs to close above the $78,000 area and hold the level before traders can treat the move as a clear shift in structure.

A separate market view from Ted places the next major resistance between $79,000 and $80,000. His weekly chart shows Bitcoin rebounding from a drop into the low $60,000 area earlier this year. Since then, BTC has recovered steadily and moved toward the high of the latest capitulation candle.

Ted’s chart points to a pattern seen at two earlier local tops. In both cases, Bitcoin moved above the high of the prior capitulation candle before losing momentum. Based on that structure, he said the $79,000 to $80,000 range may act as a local top again if prices stall there.

Still, the pattern remains unconfirmed until Bitcoin price reaches that zone and shows rejection. A break above it would weaken that bearish case and keep $80,000 in play this month.

BTC Liquidity Zones at $76.5K and $69.5K

CoinGlass heatmap data shared by Ted shows two main liquidation clusters around the current price. The first sits near $76,500 and marks a short liquidation zone above the market. The second sits near $69,500 and marks a larger long liquidation pocket below it. These zones matter because price often moves toward areas with dense leveraged positions.

That setup leaves Bitcoin between two strong liquidity magnets. Ted said his base case calls for a retest of this week’s high before the broader downtrend resumes. If that happens, BTC could sweep the upper zone first, only to face renewed pressure. If buyers retain control after that sweep, the market may continue to press toward $80,000.

BTC Near Two-month Highs Amid Institutional Demand

Institutional activity has also added to the current market backdrop. Data cited in market coverage said Morgan Stanley bought 177.76 BTC worth about $13.75 million on April 18. That purchase lifted the firm’s total Bitcoin holdings to 1,347.54 BTC, valued at nearly $103.94 million. At the same time, spot Bitcoin ETFs recorded continued inflows, with one report citing a daily total of $663.9 million.

Other market indicators also showed steady demand from U.S. buyers. Bitcoin also moved above its 20-day, 50-day, and 100-day exponential moving averages during the recent rebound. BTC touched a two-month high near $78,317 before easing slightly. As long as Bitcoin holds near the current weekly resistance zone, the path toward $80,000 this month remains open.

The post Bitcoin Price Could Revisit $80K This Month as BTC Tests This Weekly Resistance appeared first on The Market Periodical.