From CryptoPotato · By Shayan Markets
Bitcoin is trading around $79.7K after a sharp rebound from the $75K region stalled near $80K. The rejection keeps BTC within a short-term corrective structure, with the price now caught between a key demand zone below and overhead resistance that buyers have repeatedly failed to clear. Meanwhile, the Adjusted SOPR is sliding back toward its key 1 threshold, suggesting that profit realization across the network is fading.
Bitcoin Price Analysis: The Daily Chart
Bitcoin continues to trade within the ascending channel that has defined its recovery from the June lows near $58K. However, after two rejections from the channel’s upper boundary around $87K in September and early October, BTC began forming lower highs and slipped below the channel’s midpoint late last month.
The decline brought the price into the $75K-$78K demand zone, the order block that preceded the September rally toward $87K. Buyers responded with a long lower wick and a strong rebound, but the move stalled at the channel midline, which is now acting as resistance around $80K. Reclaiming it could pave the way for another advance toward the $87K supply zone, where the massive breakdown originated early this year.
Conversely, a decisive daily close below $75K would invalidate the order block and leave the channel’s lower boundary near $73K as the next support. A breakdown beneath this trendline would mark a clear failure of the broader recovery structure and raise the risk of a deeper move toward the low $60K region, where the price consolidated during the summer.
BTC/USDT 4-Hour Chart
The 4-hour chart shows that BTC has been trading within a descending channel since the late-September highs near $87K, printing consistent lower highs and lower lows. The upper boundary has capped every notable rebound, including the October spike into the $85K supply zone, which sellers quickly absorbed.
Yesterday, Bitcoin rallied aggressively from the $76K demand zone, which overlaps with the channel’s lower boundary. The move, however, was rejected at the confluence of the upper trendline and the $80K supply zone, which represents the bearish order block where the late-October breakdown began, and the price is now slipping back below it.
A sustained break above this confluence would mark the first breakout from the channel and could open the way toward $85K, followed by the $87K highs. Until then, rebounds remain vulnerable to overhead supply. A renewed drop below $76K would leave the descending lower boundary near $75K as the final short-term support before the daily channel floor around $73K.
On-Chain Analysis
The Adjusted Spent Output Profit Ratio (aSOPR) on CryptoQuant measures whether coins moved on-chain are, on average, being spent at a profit or a loss, excluding outputs younger than one hour to filter out short-term noise. Readings above 1 indicate profit realization, while values below 1 suggest holders are selling at a loss. The chart displays the metric’s 30-day exponential moving average.