Bitcoin’s 7.25% Rebound Reverses at $81,000 Resistance

Bitcoin (BTC) rose 7.25%, or about $5,500, from Wednesday’s low to $81,000 before reversing at that resistance, leaving the rebound below a recent $87,000 local high. Since the $87,000 local high, Bitcoin has formed lower highs, while the broader rally has continued to post higher lows. On the weekly chart, $75,000 appears as horizontal support, and closing candle bodies sit near $77,000. The 50-week simple moving average also provided support during the previous bull market. The price action follows a recent test of Bitcoin support at the lower edge of a parallel channel . Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

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