Bitcoin pushed past the $80,800 mark on Tuesday, hitting a high of $81,765 before settling above $80,500. The move marks a clean break from recent sideways trading, and the hourly chart shows a bullish trend line forming with support at $80,150. The cryptocurrency is now testing the next major hurdle — $81,750.
Price action and the hourly chart
On the BTC/USD pair on Kraken, the price climbed steadily through the morning session, clearing the $80,800 zone without much fuss. The hourly chart shows a clear upward channel, with the trend line support at $80,150 acting as a floor. Bitcoin is also trading above the 100-hour simple moving average, a bullish signal that traders often watch for short-term direction.
Technical indicators point higher
The MACD is gaining pace in bullish territory, and the RSI sits above 50 — both readings that suggest buyers have the upper hand for now. That doesn't mean the rally is a sure thing. If Bitcoin fails to break above $81,500 — the immediate resistance — a pullback toward $80,150 is possible. A deeper decline could test $78,350, though that would require a break of the current trend line.
Key levels to watch
Major resistance sits at $81,500 and then $82,000. On the downside, $80,150 is the first support, with $78,350 acting as a stronger floor. The next few hours will tell whether bulls can push through $81,750 — if they do, $82,000 becomes the next target. If not, expect a retest of the support zone.
The market is watching for a catalyst to sustain the move, but for now the technicals are aligned. A failure at resistance would put the trend line at risk, and that's the line traders are eyeing.
