BTC Price Analysis: Key Support Levels to Watch Around $80,000

Bitcoin’s price continues to consolidate to just below $90,000 after weeks of selling pressure. Buyers are trying to hold on to the mid-range, but momentum remains weak over longer periods. The current PA (price action) is showing signs of temporary relief, but the broader sentiment points to continued caution from institutional players.

Bitcoin Price Analysis: Technique

By Shayan

The daily chart

On the daily chart, BTC is still trading within the descending channel that has formed over the past few months. Both the 100-day and 200-day moving averages are above price, acting as resistance near $103,000 and $108,000. So far, any bounce attempt has been limited to the descending channel.

The main support remains at USD 80,000, which has already been tested twice. If this zone fails, the next big ask will be around $72,000. The RSI is also curling higher after being oversold, indicating near-term bullish momentum, but no strong reversal yet.

The 4-hour chart

On the 4H chart, BTC broke off from the rising wedge that formed earlier in December. After hitting a low of $90,000, buyers are trying to regain ground, but the move lacks volume.

The price is trying to make a local higher low, but the structure is still leaning towards bearish. There is a visible rejection at almost $88,000, which was the previous support that turned into resistance. If buyers can’t turn around that area quickly, a retest of the $80,000 area is likely.

The RSI has also recovered from the lows but remains below 60, indicating limited strength. As a result, there is still a high chance of more negative consequences if BTC does not rise above $90,000 soon.

Sentiment analysis

Bitcoin Coinbase Premium Index

The Coinbase Premium Index remains negative, indicating continued selling pressure from US-based institutions. This difference has already been present in recent months and has still not been reversed.

Each local pump has received stronger negative premium values, indicating that Coinbase whales are gaining strength. Until this turns positive or at least neutral again, the macroeconomic benefit will remain limited.

Overall, sentiment on the US side remains risky, confirming that institutions are not yet ready to accumulate aggressively.