SAEDNEWS: Bitcoin’s price, after finding support near the $77,000 level, resumed a new upward trend. The cryptocurrency managed to break through the resistance levels of $77,500 and $78,000, and even climbed above $78,500.
According to a report from ISNA via Saednews’ Science and Technology service, Bitcoin recently reached a new ceiling of around $79,480 before entering a phase of fluctuation and consolidation. This stabilization occurred above the 23.6% Fibonacci retracement level of the upward move from the $77,145 low to the $79,480 high.
Buyers are currently active above the $78,000 level. Bitcoin is trading at approximately $77,716. If the price manages to remain above $78,200, a new upward wave could begin. Immediate resistance is located around $79,200, with a stronger resistance at $79,500. A close above $79,500 could open the path toward the $80,000 level. If this level is broken, further targets may include $81,200 and then $82,000.
If Bitcoin fails to break through the $79,500 resistance, it may enter a new downward phase. Immediate support lies around $78,600, while the next major support is near $78,300. This level aligns with the 50% Fibonacci retracement of the upward move and a trendline at approximately $78,250.
According to TradingView data, additional support is seen around $77,250. If selling pressure increases, a short-term decline toward $76,500 is possible. The key support level remains at $75,000, and a break below it could weaken the short-term recovery trend.
