Bitcoin briefly surged above $80,000 overnight, reaching a high of $81,300, before pulling back to around $79,000. According to Gareth Soloway, Chief Market Strategist at Verified Investing, as cited by foreign media, this rally is not yet sufficient to confirm a new bull market; instead, the market appears to be testing上方阻力.
Resistance cluster between $80,000 and $83,000
The article notes that recent candlesticks have shown an increase in long upper shadows, indicating growing selling pressure during price rallies. Meanwhile, a trend line that previously acted as support has now turned into resistance after being broken and retested.
Soloway believes that the current range of $80,000 to $83,000 features multiple layers of resistance, which is a key reason why Bitcoin failed to hold its gains after the rally.
$82,830 is the key level to watch.
He views $82,830 as a key level within the current structure, as this level corresponds to the previous swing high. Only if Bitcoin closes effectively above this level would it signal the first higher high in the current trend.
According to this interpretation, it may be an early signal that the trend could shift from downward to upward, but it cannot yet be considered confirmation of a bull market on its own. For a more complete trend reversal, the market needs not only higher highs but also subsequent higher lows.
If it rebounds or looks at $73,000 and $67,000
For potential future pullbacks, the article identifies two support zones:
- $73,000: Corresponds to a more aggressive support level for a pullback
- $67,000: Corresponds to a stronger historical consolidation and breakout zone
Soloway believes that identifying trends doesn't need to be overly complicated—the core remains observing whether Bitcoin has shifted from a structure of "lower highs and lower lows" to one of "higher highs and higher lows."
As of the publication of this analysis, Bitcoin has not yet closed above $82,830, so whether the trend has truly strengthened remains to be confirmed by future price action.