Bitcoin (BTC) Price Prediction: $80,000 Mark Flips to Resistance After Heavy Weekend Sell-Off

Bitcoin is currently hovering around the $78,000 mark and is still struggling to gain momentum. As highlighted in our previous analysis, the price is continuing its bearish trend and has broken below the $80,000 mark as predicted. The bears appear to be in firm control, with BTC dropping rapidly over the weekend and dragging the broader market down with it. Given that the macro trend has leaned bearish for some time, this correction was expected, and a retest of lower levels appears likely in the near term. Let's examine the latest charts to determine where the price could be headed in the coming days.

Our Bitcoin Price Prediction Summary

• Bitcoin has shifted into a deeper corrective phase after failing to hold $85,000 and subsequently breaking the $80,000 mark.
• While $74,500 is offering temporary support, a retest of $80,000 is possible to result in another rejection given the current momentum.
• The macro trend stays bearish as long as the price remains below the 50-week EMA and the weekly bearish divergence is active.

Analyzing the Charts

Market Correction Gathers Pace

The 1-day chart shows Bitcoin trading below the $80,000 mark after failing to find support following the breakdown of the trendline and the $85,000 level. This price action confirms a new corrective phase that will likely extend into the coming weeks. While the price is attempting to gain momentum on lower timeframes, the daily trend remains bearish. However, Bitcoin has found initial support at $74,500. With the RSI currently in oversold territory, we can expect the price to consolidate or provide a brief relief bounce on micro timeframes.

Short-Term Relief at $74,500

On the 4-hour chart, Bitcoin is seeing some minor relief after entering oversold territory, with the price currently bouncing off the $74,500 mark. We can expect some consolidation here in the short term or potentially a retest of $80,000. However, given the current momentum, $80,000 would likely act as a point of rejection. The broader downtrend remains firmly intact, and the price could break below $74,500 in the coming weeks to test the $70,000 psychological zone. This outlook is why our Bitcoin price prediction remains bearish.

Macro Bearish Signals on the Weekly Chart

Lastly, the 1-week timeframe confirms that Bitcoin remains trapped within a long-term macro downtrend. The bearish divergence we have highlighted for several months is still active, signaling that broader momentum has not yet shifted in favor of the bulls. Additionally, the price is currently trading below the 50-week EMA, a level that historically serves as a line in the sand for Bitcoin’s macro health. To shift the trend, BTC needs to reclaim this EMA support and invalidate the bearish divergence, neither of which looks likely in the near future.

Final Takeaway: What is Next for BTC?

Bitcoin remains under heavy selling pressure after failing to hold the $80,000 level. While the $74,500 mark is providing a brief pause due to oversold conditions on shorter timeframes, the technical structure is still leaning down. The price is currently stuck below the 50-week EMA, and the long-term bearish divergence on the weekly chart has not been cleared. Unless Bitcoin can pull back above these major levels with high trading volume, the market is likely to continue drifting toward the $70,000 psychological zone.