If you pull up the 
BTCUSD chart right now, you will notice one thing immediately: every time price touches $80k, it gets pushed back down.
This is not random. It has to do with a technical analysis tool called the bull market support band, which is built from two moving averages: the 20-week SMA and the 21-week EMA.
1. The $80k Zone Is Acting as Strong Resistance
When price gets rejected at this level and cannot break through, the market usually drops to find lower support. If Bitcoin loses $75k, then $70k becomes the next level to watch.
2. Spot Volume Is Too Low to Support a Rally
A real bull market needs volume behind it. When price tries to hold but volume does not follow, that is a signal that buyers are not actually confident. Any selling pressure in this environment can push price down faster than usual.
BTCUSD chart right now, you will notice one thing immediately: every time price touches $80k, it gets pushed back down. This is not random. It has to do with a technical analysis tool called the bull market support band, which is built from two moving averages: the 20-week SMA and the 21-week EMA.
1. The $80k Zone Is Acting as Strong Resistance
When price gets rejected at this level and cannot break through, the market usually drops to find lower support. If Bitcoin loses $75k, then $70k becomes the next level to watch.
2. Spot Volume Is Too Low to Support a Rally
A real bull market needs volume behind it. When price tries to hold but volume does not follow, that is a signal that buyers are not actually confident. Any selling pressure in this environment can push price down faster than usual.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.