Bitcoin is trading near $77,000 as market analysts outline both a possible short-term pullback zone and a rising long-term structural floor. According to analyst Ali Charts, Bitcoin’s short-term holder cost basis near $71,200 has historically served as a key accumulation area during previous bull markets, and could become the next major buying zone if current bearish momentum persists.
Short-term technicals remain weak. Bitcoin has been rangebound between roughly $76,900 and $77,500 since September 12, with support at $76,500–$77,000 and resistance at $77,500–$78,000. The RSI sits at 39.23, below its moving average and the neutral 50 level, while the MACD line at -59.30 is below the signal line at -43.10, signaling renewed downside pressure. A break below $76,500 could expose $76,000 and lower levels, while a sustained move above $78,000 may support recovery.
Meanwhile, Blockstream CEO Adam Back highlighted a longer-term milestone: Bitcoin’s 200-week moving average has risen above $65,000 for the first time, reaching a new all-time high after climbing from about $64,000 in August. The 200WMA is widely viewed as Bitcoin’s historical price floor, and Back’s chart from Look Into Bitcoin suggests the market’s mathematical baseline is strengthening faster than in previous cycles. With spot prices holding in the $76,000–$77,000 range, long-term holders appear to be absorbing selling pressure well above that structural level, leading supporters of the model to argue that Bitcoin may never trade below $65,000 for an extended period again.
