Bitcoin Hits $80K Supply Cluster Resistance

Bitcoin is currently testing its largest supply cluster resistance at $80,000. This level aligns with the average cost basis for ETF holders and the 50-week moving average.

Such supply walls act as stiff resistance because holders near this level lack incentive to sell before breaking even.

The current price of $80,336.86 is within the Bollinger Bands, with upper resistance at $80,469.09.

While the bullish EMA structure remains intact, with the EMA50 at $76,112.96 and the EMA200 at $69,188.85, the MACD death cross signals fading momentum.

A healthy retracement toward the 50-EMA support appears probable before any continuation higher in this market environment.