Bitcoin rebounded toward $83.3K after another test of nearby demand, but the rally remains below broken trendline support. The resumption of large whale spot activity adds another factor to watch, as large orders could introduce selling pressure as BTC struggles to regain resistance.
Bitcoin price analysis: the daily chart
On the daily time frame, Bitcoin’s rejection from the $86.5k-$90.5k resistance zone led to a correction in the lower part of its ascending structure. Buyers responded around the highlighted demand zone between $80,000 and $81,500, producing a rebound towards $83,300. However, the price remains below the bullish median trendline, suggesting that the recovery has yet to reverse recent structural weakness.
The broader picture remains supported by the moving averages. The 100-day average near $73.3k is above the 200-day average around $72.2k, now the bullish crossover confirmed. Nonetheless, these averages sit well below the price and provide limited protection against further decline in the near term.
Maintaining the $80,000 – $81,500 demand zone and the near lower ascending boundary would preserve the possibility of a recovery towards $85,000 – $87,000. A sustained recovery of this region could bring the broader supply zone from $86.5k to $90.5k back into focus. Conversely, a decisive loss of $80,000 would weaken the ascending structure and expose the next major demand area between $75,000 and $78,000.
BTC/USDT 4-hour chart
The 4-hour chart shows that Bitcoin is trading below the ascending trendline that previously supported its advance. Following the outage, price tested the $80,000-$81,500 demand zone twice, with both visits generating buying interest. The latest bounce took BTC towards $83.3k, although it remains close to recent bounce highs around $84k.
A sustained move above $84,000 could support an advance towards the highlighted supply zone between $85,000 and $86.7,000. This area contains the consolidation preceding the sell-off and represents a significant obstacle to restoring bullish momentum. Until buyers reclaim it, the rebound remains vulnerable to the formation of another lower high.
On the other hand, loss of the recent lows of $81,000 to $81,500 would put pressure on the lower limit of demand around $80,000. A confirmed break below the entire area could extend the correction towards $78,000 and the broader support zone of $75,000 to $78,000.
Sentiment analysis
The Bitcoin Spot average order size chart shows new large whale readings during the recent price action around $82,000 to $87,000. These readings indicate larger average spot transactions and suggest that large participants are actively involved as Bitcoin consolidates below resistance.
Their presence could introduce significant selling pressure if these larger orders represent distribution or profit-taking. With BTC already trading below its broken trendline, rebounding whale sales could limit upside tracking and increase the risk of another test of the $80,000-$81.5k demand zone.
However, average order size does not reveal trading direction, so green readings alone cannot confirm whale selling. The main concern is whether continued large orders coincide with failed rallies and further breaks to the downside. Such behavior would strengthen the distribution scenario, while a lasting reconquest of the supply zone from $85,000 to $86,700 would weaken it.
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