bitcoin tests key resistance zone to form next major breakout
Bitcoin is fighting a key technical battle and is trading just below two closely watched long-term trend indicators: the 200-day Simple Moving Average (200SMA) at $82,455 and the 200-day Exponential Moving Average (200EMA) at $82,027, according to Glassnode data.
The 200SMA calculates the average closing price across the last 200 days, weighting each day equally. The 200EMA uses the same 200-day window but places greater emphasis on more recent prices, making it slightly more responsive to current market conditions.
Together, they form a confluence resistance zone around $82,000–$82,500 that bitcoin must convincingly reclaim to signal a recovery of its long-term uptrend.
Bitcoin first lost the 200DMA in late November 2025, when the price rolled over from $108,000. A brief recovery attempt in January failed to reclaim the level around $97,000 and by early February 2026 bitcoin had fallen to $60,000.
What gives bulls reason for cautious optimism is that bitcoin is holding above several significant cost basis levels, according to CheckonChain. The 128-day Moving Average sits at $75,700, representing the average price paid by buyers over that shorter timeframe and a level BTCX has successfully defended.
The True Market Mean, currently at $78,200, reflects the average price of every bitcoin at the time it last moved onchain, essentially representing the aggregate cost basis of the entire active market.
The Short-Term Holder Cost Basis at $78,400 tracks the average acquisition price of investors who bought within the last 155 days, a group historically prone to panic selling when underwater.
Bitcoin trading above all three suggests the majority of recent buyers remain in profit, reducing sell pressure from forced liquidations or panic selling. The key zone to watch is whether bitcoin can flip the $82,000-$82,500 into support.
Post Comment