Bitcoin is holding near $79,000 as two technical setups point to a potentially important stretch for BTC, with bulls watching an $82,800 breakout while a deeper retest near $68,000 remains possible within the broader uptrend. A coming golden cross and improving weekly momentum support the bullish case, but confirmation depends on Bitcoin clearing overhead resistance and defending key support if volatility returns.
Bitcoin Weekly Structure Keeps $68,000 Retest in Focus
Bitcoin’s weekly chart remains constructive despite the possibility of a deeper pullback, with analyst Jesse Olson comparing the current setup with Bitcoin’s 2023 bull-market structure.
Bitcoin BTC Weekly Trend Dot Retest. Source: Jesse Olson (@JesseOlson) on X.
The comparison centers on a weekly trend indicator that begins printing green dots as momentum improves. Olson notes that during the 2023 advance, Bitcoin eventually returned to retest the eighth green trend dot near $19,500 before resuming its broader move higher.
A similar setup could now place the rising weekly trend area near $68,000 by October. That would represent a sizable decline from current levels, but the chart treats such a move as a potential support retest rather than confirmation of a bearish reversal.
The bullish interpretation would remain intact if Bitcoin pulls back toward the rising trend dots, finds demand and forms another higher low. A strong reaction from that region could keep the longer-term structure pointed higher and open the door to another attempt toward the upper-$80,000s and potentially the psychological $100,000 area shown in the chart projection.
The scenario would weaken if BTC loses the rising weekly trend structure decisively. In that case, the historical comparison with 2023 would become less reliable and the market would need to establish a new support base.
Bitcoin Needs $82,800 Breakout as Golden Cross Nears
Bitcoin’s shorter-term chart presents a more immediate bullish test, with Super฿ro highlighting $82,814 as the key swing-high resistance while a projected golden cross approaches in early September.
Bitcoin BTC $82.8K Breakout and Golden Cross. Source: Super฿ro (@SuperBitcoinBro) on X.
BTC is shown near $78,870 and above the previous swing-high monthly close at roughly $76,306. Holding above that level is constructive because it suggests Bitcoin has reclaimed an important closing-basis resistance zone.
The next major hurdle sits around $82,800. A decisive break above that swing high would establish a higher high and strengthen the argument that the rebound from the mid-$60,000 area has developed into a broader bullish continuation.
Bitcoin is also approaching the descending weekly 50-period SMA shown above price. Reclaiming that moving average alongside a break above $82,800 would provide stronger confirmation that buyers are overcoming the remaining overhead resistance.
The chart additionally projects a golden cross between the rising 50-day and 200-day simple moving averages around Sept. 8. Although the signal is generally associated with improving medium-term momentum, it is lagging and would need support from price action to carry greater significance.
For now, $76,300 is the first important downside level. Holding above it keeps the immediate structure constructive, while a break below would raise the risk of a larger retracement. Taken together, the two charts suggest Bitcoin could first challenge $82,800, but even a later drop toward $68,000 would not necessarily invalidate the broader bullish trend if that area holds as support.
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