Analyst: Bitcoin faces significant selling pressure; whether it can continue to rebound remains to be seen
2026-09-05 12:40:08
According to CoinMeta, the current price of Bitcoin is $79,464, failing to maintain above $82,000 and falling back into the consolidation range of $82,000–83,000. CryptoQuant reports that a short-term rebound rather than demand from new buyers drove this surge. Bitcoin began to rise around $78,500, reaching a high of $82,107, then consolidated around $81,000, and ultimately fell below $80,000, although it still maintained a 1.2% increase over the past 24 hours. The current support level is near $78,459, with $80,000 being the first level of recovery. The rebound will face resistance between $81,500 and $82,100, which coincides with the consolidation structure identified by Daan Crypto Trades. A heat map from Daan shows dense liquidity in the range of $82,000 to $83,000; a breakthrough in this range would confirm a bullish change in market structure.
Bullish 0
Bearish 1
Source:The Coin Republic
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