Bitcoin Breaks Above $80K, Sets Sights on Next Rally Target

Bitcoin has surpassed the $80,000 mark, trading at $80,677.39, up 2.7% over the past 24 hours and 24% over the past week.

This milestone clears a resistance zone that traders had been closely watching, with one expert noting that this zone was the target for weeks and the price hit it almost exactly as expected before pushing higher.

The clearing of this resistance zone could open the door to a bigger rally, potentially toward the $83,000 to $95,000 range over time, according to the expert's analysis. However, if Bitcoin loses momentum and drops back down, it could slide toward a support zone between $70,500 and $75,138.

The expert also pointed out that some signals hinted at a slowdown in the upward push before the breakout, including a pattern where price made small new highs while the underlying momentum indicator weakened each time, which chart analysts view as an early warning sign of a rally running low on energy.