Bitcoin bulls battle for $80K control as US jobs data delivers surprise
Bitcoin traders called a "healthy bullish backtest" as BTC price action kept them guessing over whether $80,000 could be reclaimed.
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Bitcoin traders called a "healthy bullish backtest" as BTC price action kept them guessing over whether $80,000 could be reclaimed.
After reaching a local high of around $82,800, the $BTC price has suffered a 4.25% fall, losing the major $80,600 horizontal support level, and pulling back to the top of the bear flag which was strong enough support to stop the rot. As Bitcoin continues its bounce, could $85,000 be the next higher target?
Bitcoin retreated amid clashes in the Strait of Hormuz and rising oil prices. Analysts argue that a limited appetite for full‑scale escalation caps downside risk. Bulls aim for a rebound toward $82,000, but bears could target a breakdown below $78,000. Bitcoin dropped to around $79,200 in early trading on Friday as fresh military skirmishes in […] The post Is Bitcoin’s drop to $79K a bear trap as Hormuz tensions escalate? appeared first on CoinJournal.
BTC pushes beyond $80K toward key resistance near $85K, with bulls in control. ETF demand builds and shorts persist, but overhead supply may cap upside without stronger spot follow-through.
The Bitcoin bulls have broken out of the bear flag on Monday and have tested $80,000. Is this a firm foothold for the price so the bulls can push on higher, or is this just the last dregs of a rally that is just about to run out of steam?