After falling below the $80,000 mark, Bitcoin has once again brought key technical support levels into sharp focus. Analysts note that in the short term, the flagship cryptocurrency is struggling to hold the region below $60,000, a level considered crucial for defending against a deeper retreat. Should Bitcoin fail to maintain this zone, stronger attention will inevitably shift to the range between $40,000 and $50,000, as well as the important $48,700 mark.
The outlook beneath $80,000
According to an analysis shared by Daan Crypto Trades, Bitcoin has failed in its attempt to reclaim the area around $80,000, a region previously viewed as support. On the daily chart, the price was firmly rejected at both the 200-day Exponential Moving Average (EMA) and the 200-day Simple Moving Average (MA) near $80,500, which then fueled accelerated selling pressure.
The analysis highlights the $80,500 zone as a significant resistance area. While Bitcoin made efforts to recover this level in May, sellers dominated around the long-term moving averages, signifying a bearish retest scenario where prior support has now turned into resistance.
Analysts say that the key question in the current structure is whether Bitcoin can establish a wider band between $60,000 and $80,000. Sustaining support near $60,000 would keep this scenario alive, but a decisive loss here could open the door to a much steeper pullback.
The next pivotal support on the chart is around $59,757, a region that previously marked a significant bottom. Enhanced trading volumes during the latest decline point to strong participation by sellers, intensifying downward momentum in the market.
Weakness in the long term technical structure
In terms of trend, Bitcoin continues to trade below two critical long-term moving averages. Since its attempt at recovery in May, the price has set lower highs, reinforcing the case for an ongoing bearish structure. As long as the price remains beneath the $80,500 resistance, broad-based downward pressure is expected to persist.
A separate weekly chart analysis by Crypto Patel notes that Bitcoin has now dropped below the rising trendline that underpinned much of its bull run. The $73,500 level, which once served as a support, has now transitioned into resistance, further complicating prospects for a sharp recovery.
Scenario below $48,700
On the weekly chart, recent peaks coincided with negative divergence. While the price continued to register new highs, the Relative Strength Index (RSI) posted lower peaks, signaling a loss of upward momentum. As the trendline gave way, a corrective phase set in more clearly.
The analysis shows that Bitcoin has dropped by over 44 percent from the resistance level identified. The primary support to watch is now at $48,700, an area that served as a key breakout in the last bull market. Should this zone be retested, it could attract strong buyer interest once again.
Crypto Patel emphasizes that periods of heightened fear in the market often translate into long-term accumulation opportunities. If the correction continues, he argues, the $50,000 to $40,000 range could become a focal point for accumulation in the 2026–2027 timeframe.
For now, the region near $73,500 stands as major resistance, while support at around $48,700 is drawing attention. The market’s response to these thresholds is likely to set the tone for Bitcoin’s next long-term phase.
