Bitcoin slid back under $80,000 in the past 24 hours, trading at $79,820 — a 1.8% drop that wiped out the modest gains from earlier this week. The move follows another failed attempt to break through a stubborn resistance band on the quarterly chart, analyst Minga noted.
The resistance that won't budge
Minga identifies a zone between $80,600 and $82,500 as a major hurdle on the quarterly timeframe. Bitcoin tested it but couldn't hold. The 200-day simple moving average, sitting near $82,500, also rejected the price. For bulls, this is the third or fourth time the area has acted as a ceiling in recent weeks. If BTC can't close above that range before the quarter ends, Minga says it signals a lack of conviction for any real price discovery to the upside.
What the quarterly chart shows
The quarterly open sits around $68,200 — that's the first meaningful support below current levels. A drop back there would mean a round trip from January. But Minga points out that if Bitcoin somehow reclaims the $80,600–$82,500 area, the quarterly candle would engulf the prior quarter's range. That pattern hasn't happened during a bear market, so it would be a notable shift in momentum if it does.
The $65,000 level in focus
Below $68,200, the next important floor is $65,000. Minga flags untapped lows on lower timeframes in that region, which typically represent pools of liquidity. That kind of structure often draws price toward it before a reversal. The analyst sees a strong possibility that Bitcoin holds $65,000 as support and stages an upside bounce from there. Whether that plays out depends on whether sellers keep pushing or buyers step in first.
The quarter still has weeks left, so the window for a reclaim isn't shut yet. But the repeated failure at $80,600–$82,500 is getting harder to ignore. If Bitcoin can't hold $79,000 in the coming days, the path toward $68,200 opens up. The $65,000 region then becomes the real test — either it holds and sparks a rally, or it breaks and the next leg down begins.
