Bitcoin Analysts Lean Bullish as BTC Tests $80K Resistance

Aug 24, 2026, 9:14 p.m. 7 sources positive

Key takeaways:

  • Shorts liquidation cascade fueled BTC's rally, but thin liquidity may amplify pullbacks.
  • Regulatory optimism from Clarity Act and Treasury buybacks supports structural bid for Bitcoin.
  • Watch $79,500 resistance; failure could expose $74,000, then $65,000 support.

Bitcoin enters the fourth week of August with a cautiously optimistic tone, as six of eight chart analysts affiliated with Bitcoin World project price gains over the next seven days. The remaining two analysts forecast a decline, underscoring persistent uncertainty in the broader cryptocurrency market.

Among the bullish forecasts, the highest price target stands at $85,000, while the most conservative bullish target sits near $73,000. The wide range reflects conflicting signals from macroeconomic data, regulatory developments, and on-chain metrics.

By August 24, Bitcoin was trading around $77,552, up roughly 0.19% over 24 hours but more than 22% higher over the past week. The rally followed more than $2.7 billion in bearish liquidations across crypto markets, including over $1 billion in BTC shorts wiped out in about an hour as price broke through $69,500. Reuters linked the surge to U.S. Treasury support for long-duration bond buybacks and President Trump’s push for the Clarity Act, which is repricing risk appetite for digital assets.

Technically, BTC has consolidated in a mildly downward-sloping one-hour regression channel after rallying from below $70,000 to a recent high near $79,500. Support sits around $75,000–$76,000, with a deeper floor near $74,000–$74,100. Resistance clusters at $77,800–$80,000, then $82,000–$85,000, while CoinStats flags $78,000 as the immediate ceiling.

The bull case sees a decisive one-hour close above the channel opening the $89,000 target. The base case is sideways trading in the high $70,000 range. The bear case would require failure to reclaim $79,500, exposing $74,000 and potentially the $65,000–$67,000 range.

For traders, the split among analysts suggests volatility is likely to persist. Long-term investors may view this period as consolidation before a potential breakout, though past performance is not indicative of future results.

Previously on the topic:
Aug 22, 2026, 4:58 p.m.
Bitcoin’s 130x Decade Rally Peaks as RSI Hits 86 and BTC Nears $80K
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