The Bitcoin price is getting ready for another critical test near the $80,000 level, although there seems to be a confusing environment on the charts. The technical picture looks a bit weak i
The Bitcoin price is getting ready for another critical test near the $80,000 level, although there seems to be a confusing environment on the charts. The technical picture looks a bit weak in the short term, while on-chain metrics remain stable. That keeps the trading range for BTC quite narrow, from $77,000 to $80,000.
Bitcoin recently rejected at the 50-week moving average, according to crypto analyst Ted Pillows. But Bitcoin managed to close above its 50-week exponential moving average (EMA), meaning the overall technical setup is not in breakdown territory just yet.
In his analysis, Pillows indicated that regaining control of the 50-week moving average might pave the way for Bitcoin toward $88,000-$90,000, while giving up the 50-week EMA may cause the price of Bitcoin to fall toward $74,000.
bitcoin:native got rejected from the 50W MA but managed to close above the 50W EMA.If Bitcoin reclaims the 50W MA, a pump to $88,000-$90,000 could happen next.If BTC loses the 50W EMA, it could drop to $74,000. pic.twitter.com/ngqkkBG6OH
— Ted (@TedPillows) August 31, 2026
The weekly chart puts the 50-week simple moving average (SMA) around $80,326.65, while the 50-week EMA sits near $77,329.10. That makes the current area particularly important. Bitcoin is trading between the two averages, with the 50-week EMA acting as nearby support and the 50-week SMA sitting just above $80,000 as resistance.
There is also a larger support zone below the market. The Bull Market Support Band is currently around $70,102-$71,052. A drop toward this area would mean a deeper pullback, while a weekly close below $70,102 would be a more serious warning for the broader bullish structure.
The daily chart tells a similar story, with Bitcoin stuck between short-term support and key resistance levels. BTC is currently trading at $78,287, while the 9-day EMA is at $77,330. As long as it continues to trade above this moving average, short-term support holds up. The situation could change quickly if BTC closes below the 9-day EMA, which could put $75,000 back in focus, followed by the $70,000 area if selling pressure continues.
For the bulls, however, $80,000 remains the level to watch. Bitcoin’s daily Relative Strength Index (RSI) is around 70.34, putting momentum close to the traditional overbought zone. The RSI is still below its upper band near 75.95, though, so there is room for momentum to increase if Bitcoin manages to break higher. A move above the upper RSI band alongside a clean break above $80,000 would strengthen the bullish case.
The 4-hour chart is less encouraging in the short term. Bitcoin is trading below its 9-period EMA at $78,143, and the RSI is at 46.81. Also, the RSI is trading below its signal line at 48.72, implying bearish momentum in the short term.
However, the first level that needs to be watched is $77,900. Should the price find support at $77,900, there would be hope of pushing toward $80,000 once again. Breaking down from $77,900 would make a move toward $75,000 and $72,000 possible. Retaking $78,143 on the other side would improve the near-term picture.
While the charts are showing some short-term weakness, Bitcoin’s network activity tells a different story. The analysis puts Bitcoin’s market capitalization at around $1.61 trillion, with BTC trading near $78,000. Despite recent consolidation, market capitalization has remained relatively stable.
That suggests Bitcoin’s overall valuation has not experienced a major breakdown while the price has moved sideways. Active addresses are also holding up relatively well. The provided Glassnode data shows around 680,000 active addresses, with activity generally fluctuating between approximately 640,000 and 680,000.
This is worth watching because a sharp and sustained decline in active addresses could point to weakening network participation. So far, however, there has not been a major drop of that kind.
Transaction activity also remains fairly healthy. Daily transactions generally sit between 550,000 and 600,000, although there have been periods where activity jumped toward 750,000-$900,000. In other words, Bitcoin’s price may be struggling to push higher, but the network itself is still seeing meaningful activity.
Put everything together, and Bitcoin is essentially stuck between two major zones. On the other hand, bulls should aim for $80,000, and once a break above that level is seen, eyes will be on the next targets of $84,000, $87,000, and ultimately $90,000. Breaking above the 50-week moving average on a weekly chart at $80,326 again will send a positive signal to the market.
On the downside, the critical levels start with the 50-week EMA at $77,329. A breach of this level will add more downward pressure, with $75,000 becoming relevant. Beneath that is the range of $70,000-$71,000, which becomes increasingly more crucial. A close beneath $70,102 will weaken the overall bullish setup, putting Bitcoin back into the support zone of $63,400-$61,800.
For now, Bitcoin is caught in a tug-of-war. Short-term technical indicators are showing signs of weakness, but on-chain activity remains relatively stable. This means the upcoming move is very significant. Breaking out above $80,000 would help rekindle bullish sentiment toward the $90,000 area, whereas breaking down below the support levels would weaken the bullish setup significantly.
This analysis is based on market trends and does not guarantee future results. It should not be treated as financial advice. Cryptocurrency investments involve risk, so always do your own research (DYOR) before investing.
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This article was originally published as Bitcoin Price Faces $80,000 Test As Technical And On-Chain Signals Diverge on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.
