BTCUSD – bulls maintain dominance north of 80K amid pressure from 200DMA barrier

Bitcoin continues to hold above the 80K threshold, maintaining a positive near-term bias, while the broader bullish trend remains intact as the cryptocurrency continues to move within an ascending channel from the March 30 higher low.

The latest recovery wave from 79136, the correction low posted on May 8, remains stable, although upside momentum is developing gradually and facing stronger resistance around the 82800 zone, where the falling 200DMA converges with the May 6 peak — the highest level since January 31. Current gains still lack sufficient strength to fully reverse the recent 82821/79136 pullback.

Market sentiment remains broadly supportive, underpinned by expectations of renewed capital inflows and growing signals that the Federal Reserve may keep interest rates unchanged through 2026. Predominantly bullish daily indicators continue to reinforce the constructive near-term outlook.

However, bulls need a decisive break above the 200DMA and the nearby Fibonacci barrier at 83376, representing the 61.8% retracement of the 97946/59805 decline, to confirm continuation of the broader recovery.

A sustained move higher would expose the upper boundary of the bull channel near the 85000 area, followed by 88945 (Fibo 76.4%) and the key psychological 90K level.

On the downside, failure to overcome the 200DMA could keep Bitcoin trapped in an extended consolidation phase. In that scenario, the market should ideally remain above the 80K mark and hold above the recent correction low, reinforced by the rising 20DMA around the 79000 zone, to preserve the broader bullish structure.

Res: 82463; 82777; 83376; 85073
Sup: 80000; 79136; 78875; 76971