Bitcoin remains above $80,000 after being rejected again in the $85,500–$90,000 supply zone. The price is testing the midline of its ascending channel, a key support level, while rebounds remain limited and the market has formed a sequence of lower highs. A decisive daily close below that line would expose the $75,000–$78,000 demand zone, followed by the major support near $73,000. On the four-hour chart, Bitcoin’s failure to reclaim $81,000 would turn former support into resistance, while a move higher could target $84,000 and then $87,000. Meanwhile, miner reserves have fallen from approximately 2 million BTC in early 2025 to 1.1925 million BTC, suggesting continued selling into strength, although the decline may also reflect miners covering operational costs.
Source: Read the original article
