Bitcoin Faces Crucial Resistance at $80K-$82K
Bitcoin is facing a crucial week as it consolidates around $77.3K after breaking out from the $67K area in late August.
The technical structure has improved significantly, with Bitcoin's daily chart showing a broad base built over several months before the breakout.
However, the price is now approaching the $80K-$82K resistance zone, which it has failed to clear on previous attempts.
A clean breakout above this zone would signal that buyers are regaining control and could bring the next major daily resistance around $95K into consideration.
The Coinbase Premium Index, a measure of US spot demand, is currently in negative territory, suggesting that the recent price strength has not been accompanied by sustained buying pressure.
A renewed move to positive territory alongside a breakout above $82K would provide more convincing confirmation for the bullish scenario.