This Bitcoin price level will be 'end of the bears' if broken, says analyst
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- Bitcoin fell 2.25% to around $80,500 after failing to break the 200‑day EMA resistance near $82,580.
- Analyst Brett noted that past rejections from the 200‑day EMA triggered 25% and 36% drawdowns, and said a break above it would be the end of the bears.
- Analyst PlanC's Lifetime Support Model places Bitcoin’s long‑term upper support near $57,110 and lower support around $46,760, with a 10% band around the averaged EMA/SMA composite.
- Bitcoin rebounded over 38% from the 200‑week SMA near $61,000, a level that preceded the 2018 and March 2020 cycle bottoms, while an unresolved bear‑flag suggests a possible dip below $60,000.
Why it matters: Long investors gain if Bitcoin breaks the 200‑day EMA, while short positions lose as the price falls toward $56,600, eroding profits and tightening market liquidity.
