Bitcoin Testing $80,000 Support Level: Cointelegraph

# Bitcoin(BTC) Faces Resistance at $80,000: Analysts Assess Price Outlook Bitcoin(BTC) is attempting to reverse its downward trend near the $80,000 mark (approximately KRW 117.68 million), but heavy selling pressure is preventing a breakout to higher levels, according to a recent analysis published by Cointelegraph on the 27th (local time). The report highlights insights from veteran trader Peter Brandt, who recently shared on X (formerly Twitter) that Bitcoin is retreating after breaking down from a bearish wedge pattern. Brandt has projected a potential price target of $65,635 (approximately KRW 96,138,676). Additionally, Nick Perklin, founder of Coin Bureau, explained that current macroeconomic conditions, coupled with ongoing concerns over global trade wars, have raised the likelihood of a U.S. recession in 2025 to 40%. This kind of economic uncertainty could exert significant pressure on risky assets, including cryptocurrencies. Cointelegraph, however, noted that not all short-term perspectives on Bitcoin are negative. Analyst Stockmoney Lizards suggested, via X, that Bitcoin has the potential to rebound within the $82,000–$80,000 range and that a trend reversal could occur as early as next week. Should Bitcoin show bullish momentum, certain altcoins might also experience a positive price movement. # Bitcoin Price Analysis: Key Levels To Watch Bitcoin's price appears to have been weighed down by increasing selling pressure, with recent attempts to overcome resistance levels proving unsuccessful. This indicates that bears (sellers) may look to push the price down to the key support zone at $80,000. The 20-day moving average (currently at $85,253) remains relatively flat, while the Relative Strength Index (RSI) sits below the midpoint, favoring a slight edge for sellers. If the $80,000 support fails to hold, the BTC/USDT pair could see a further decline toward $76,606. Conversely, a rebound from the current level or around $80,000 might increase the likelihood of Bitcoin breaking above the resistance line. A breakout above resistance would signify the end of the corrective phase, paving the way for a potential rally toward $95,000 and even $100,000.