Bitcoin is consolidating around $81,600 after another rejection in the $86,000-$90,000 zone, extending a sequence of lower highs since late September. The price is currently testing a confluence of support around $80,000-$81,000, and holding it could trigger a bounce toward $84,000 and then $86,000. A daily close below the ascending channel’s midline would weaken that structure and expose the $75,000-$78,000 order block, followed by the lower channel boundary near $72,000. The spot average order size indicator shows activity dominated by large participants, with speculative retail participation notably absent since the $90,000 breakdown in late 2025, reducing the risk of a crowded top but not revealing whether those orders represent buying or selling.
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