$BTC has given back all its gains from its recent rally… As I discussed in yesterday’s post, the major rejection we saw from $85k was likely going to result in another retest of the $80k support zone we have been watching for a few weeks now. And as we can see, this is exactly what price has now done, with the bulls attempting to hold price above $80k. This level is UNBELIEVABLY crucial for price to hold, as if we were to see $80k lost, we would very likely see price revisit the mid 70s once again. It is also extremely important for price to start making a significant bounce ASAP, as every time we have retested $80k up to this point, the bounce has become weaker and weaker, with the current bounce being the weakest so far. If the bulls cannot get price back above $82.8k soon, it becomes significantly less likely that $80k will be able to continue holding strong. Keep a very close eye on this level as we head into the weekend!