Analysis “Bitcoin, Strong support at 79,000 dollars… Next target is 83,500”

Analysis has emerged indicating that Bitcoin is forming a clear buying trend at the 79,000 dollar level, solidifying a short-term support base.

On the 11th (local time), on-chain data analysis company Glassnode stated, “BTC has secured a strong support line in the 79,000 dollar range,” adding, “It has been confirmed that about 40,000 Bitcoin were purchased at this price level.”

Glassnode also analyzed, “If Bitcoin stabilizes the 82,080 dollar line in the short term, the next resistance line will be 83,500 dollars.” They explained that traces of purchases of about 48,500 BTC have been detected in this range as well.

This is evaluated as an indicator showing that Bitcoin still maintains a major support range amidst the recent announcement of tariff delay by President Trump, changes in cryptocurrency policies, and the uncertainty of the global macro environment.

The market is paying attention to whether this kind of technical support, along with the possibility of policy changes by the US Federal Reserve and the recovery of ETF fund flows, can act as a catalyst for reversing the Bitcoin price trend.