Bitcoin has decisively broken above the descending trendline and the $66K-$67K resistance zone, reaching approximately $79K before pulling back to $77K. The cryptocurrency is now approaching the major $80K-$83K resistance zone, which could attract profit-taking following such a rapid advance. On-chain analysis shows that short-term holders (1-3 month and 3-6 month cohorts) have moved back into unrealized profit, while several older cohorts remain positioned well above the current market price. The first key support area to monitor is the $72K-$74K zone, and holding this region would reinforce the idea of a genuine structural reversal.
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