Bitcoin Holds ₱4,966,257 ($80,500), Eyes ₱5,058,796 ($82,000) Target
Bitcoin faces multiple resistance levels on its path toward $82,000. Polymarket traders assign 60% odds to Bitcoin reaching above $85,000, while prediction markets show near-certainty in prices staying above $80,000 through May 2026.
Key Takeaway
Bitcoin needs to break $81,200 resistance to unlock a run toward $82,000 and higher prediction market targets.
Bitcoin cleared the $80,500 zone after reaching a high of $80,770, according to Kraken exchange data. The price now holds above $78,800 with immediate support at $79,200 on the hourly chart. That level aligns with the 23.6% Fibonacci retracement from the recent swing low of $74,940 to the $80,770 peak.
The path higher faces multiple resistance levels. First key barrier sits at $80,800, followed by a wall at $81,200. Breaking past $81,650 could open the door to $82,000, with $82,500 marking the next major barrier for bulls after that.
Downside support remains structured around key technical levels. The $78,500 zone provides the first cushion below current prices. Deeper support waits at $77,850, which marks the 50% Fibonacci retracement level and could attract buyers if selling pressure increases. The near-term support at $77,150 sits above the main support floor at $76,500.
Momentum indicators favor buyers for now. The RSI holds above 50 on the hourly timeframe, suggesting bulls maintain control of short-term price action. The hourly chart shows resistance clustered between $80,500 and $82,500.
This article was written based on reporting from NewsBTC.
