Bitcoin dipped yesterday and used the rising 100-hour moving average as a springboard. Buyers leaned against that level, defended it, and turned price action higher—a move that has extended into today’s session.
Importantly, the rally has pushed—and held—the price above the 50% midpoint of the 2026 trading range at $78,978, marking a clear shift in the technical bias back to the upside. The pair is currently trading near $81,307, up roughly $1,500 on the day, with a session high of $81,714.
On the topside, the next key target comes in at the 61.8% retracement of the 2026 range at $83,414. Just above that sits the falling 200-day moving average at $83,417—a critical resistance zone. A break above that confluence would be technically significant, especially given that Bitcoin has not traded above its 200-day moving average since early November 2025.
For now, buyers are in control—but they need to hold the line. Staying above the 100-hour moving average (currently $79,209) and the $78,978 midpoint keeps the bullish momentum intact and opens the door for a run toward the $83.4K area. Lose those levels, and the bias starts to shift back in favor of the sellers.