Bitcoin eyes $80,000 as resistance zone heats up

Recurring top pattern spotted in charts

According to analyst Ted, who shared his insights on X with a recent chart, Bitcoin could once again be forming a local peak within the $79,000 to $80,000 range. Reviewing the Bitstamp chart, Ted notes that after a sharp drop earlier this year, Bitcoin rebounded and is now trading near $75,000. The highlighted chart pattern shows that, during two previous local highs, Bitcoin quickly reversed after exceeding the top of what Ted identifies as “capitulation” candles formed during intense sell-offs.

The most recent uptrend also developed following a high-volume sell-off, with the price now advancing towards a yellow-highlighted resistance zone. This particular area closely matches the peak of a prior heavy selling candle. Drawing from historic examples, Ted suggests that should this sequence repeat, a price pullback may follow the current climb.

Past behavior indicates that before topping out locally, Bitcoin frequently managed to briefly surpass the high of major sell-off candles. On this basis, Ted says that if the price pushes into the $79,000 to $80,000 bracket, he is preparing to open short positions on Bitcoin.

Examining previous peaks, Ted comments, “At both of the last highs, the price first tested above the strong sell candle, then quickly peaked. If this pattern repeats, I expect a similar reaction and will have my short position ready when we approach $79,000 to $80,000.”

Despite this analysis, the chart has not confirmed a distinct top yet. Currently, Bitcoin remains beneath the discussed resistance and is still moving within a short-term range. What happens next will be decisive: if the price pauses after testing this zone, it could imply a new high is near. However, a clear breakout would render the current pattern invalid.

Two major liquidity clusters draw attention

Ted’s recent post on X highlights Bitcoin’s movement between two prominent liquidity pockets. Drawing on CoinGlass data, the “liquidation heatmap” shows a large cluster of short position liquidations around $76,500, while a dense area of long liquidations appears near $69,500. Bitcoin’s price is currently caught between these opposing zones.

The heatmap deploys bright bands to indicate zones where leveraged positions are heavily concentrated. Yellow tones often represent growing liquidity and attract trading activity as price gravitates toward them. While the $76,500 area poses a challenge for short-sellers, the $69,500 pocket signals a strong risk of long liquidations should the market turn downward.

Ted forecasts that Bitcoin could attempt another run toward current weekly highs, followed by a renewed drop. In such a case, the price would likely test the upper liquidity cluster first before swinging back toward the $69,500 support pocket.

Although the chart has yet to signal a clear trend, the presence of two magnetic liquidity zones is evident. As Bitcoin remains squeezed between these dominant bands, the direction it breaks first will likely steer price action in the near future.