Bitcoin is trading near $78,000 after failing to hold above the $82,500 resistance level, with analyst Crypto Patel saying $83,000 must be reclaimed to change its bearish higher-timeframe structure. A rejection could push prices toward $68,000, $62,000, and potentially $50,000. Conversely, a strong daily close above $83,000 followed by a successful retest would open the way toward $89,000-$100,000. Patel also sees a potential target above $300,000 if Bitcoin’s four-year cycle pattern repeats, with a new all-time high expected around August 2029. Bitcoin is currently down 1.4% in 24 hours and remains nearly 38% below its October 2025 all-time high.
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