Bitcoin Price Coils Below $80,000 Resistance

Bitcoin's price has been coiling at $79,164, with smart money positioned long and a momentum inflection point forming below the $79,816 resistance wall.

The market context suggests that Bitcoin didn't reach $79K by accident, but rather clawed back from past pain and is now sitting on a healthier foundation.

The 50-day and 200-day simple moving averages are parked deep in the low $70K range, indicating significant unrealized gains for long-term holders.

A clean break above $80,468 opens a potential run toward $82K-$84,000, but bulls need to close above this level first.