Bitcoin Recovery Faces Crucial Test Near $80,500 Resistance

Bitcoin's recent recovery has left it near $79,900, with traders assessing whether this momentum can push prices above the resistance area around $80,500. According to Kaz (@XBTkaz) on X, a rejection at this level could send prices back toward $78,500, while holding support would keep a recovery toward $83,000-$84,000 in play.

Kaz views Bitcoin's short-term recovery as approaching an area where sellers could regain control. He notes that the latest BTC advance has come on relatively low volume, and bids have appeared near $78,500. His base scenario calls for Bitcoin to test roughly $80,500-$80,800 before potentially retracing toward the $78,500 area.

The chart places $80,497 as the immediate rejection level. A failure to establish price above that threshold would support the case for another move lower, with $78,562, marked as the monthly open, acting as the next important reference point. Kaz views the broader demand zone below this level toward roughly $78,000 as a potential location for continuation longs if buyers defend it.