Bitcoin Moves Between $78,500 and $82,500 Resistance

Bitcoin is trading around $79,800 this Sunday, September 6, with a 24-hour range of $79,426 to $80,123, according to CoinGecko data. In his new Sunday Report, Dr Profit maintains a bullish outlook: $78,500 still needs to be confirmed as support, while $82,500 represents his next resistance level. His $88,000 target remains an analyst scenario, however, rather than an established level.

$78,500 Still Needs to Become Support

The $78,500 area has changed roles within a matter of days. At the end of August, it was still one of the resistance levels Bitcoin needed to break through. Bref Crypto was already tracking this level in Dr Profit’s previous analysis, when BTC was trading around $78,000.

The price is now above it. The technical question is therefore different: can buyers hold this area when it is tested again?

This is the classic principle of a resistance-to-support reversal. When an asset moves above an area where sellers had the upper hand, a return to that same area shows whether buyers have genuinely taken control. Dr Profit believes precisely this confirmation is still missing.

His argument also rests on the succession of levels already broken through: $65,400, $69,000, his Bear Market Resistance Bands, then approximately $71,500 and finally $78,000-$78,500.

Bitcoin is therefore not starting from scratch. It has rebuilt its structure since falling below $65,000 in August.

The market nevertheless remains close to $78,500. A few hundred or thousand dollars could still put this area under pressure.

$82,500 Also Represents an Independent Resistance Level

This is where the analysis becomes more interesting.

Dr Profit places his next barrier at $82,500. Separately, another technical analysis identified major resistance around $82,793 on September 3, near the May high and the 61.8% Fibonacci retracement. Two different methods therefore point to an almost identical area.

This convergence matters: the $82,500 level is not based solely on the view of a crypto influencer.

Bitcoin has already tested this area. Its seven-day high reached approximately $82,108, according to CoinGecko, without establishing itself above it for long. The release of the strong US employment report then pulled BTC back below $80,000, as we detailed after the 162,000 jobs announced on Friday.

Institutional flows nevertheless remain favorable. US Bitcoin ETFs attracted $730.8 million on September 3, followed by another $174.6 million the next day, according to Farside Investors.

There are therefore buyers. For now, there are also enough sellers around $82,000-$82,800 to prevent a breakout.

$71,000 Remains a Pullback Scenario, Not a Certainty

Dr Profit says that even in the event of a rejection, he does not expect Bitcoin to fall below $71,000. This is the part of his analysis that calls for the most caution.

Another reading does identify an important technical area around $71,781, once again bringing the two views closer together. That analysis nevertheless identifies initial support near $75,674 and specifies that a break below the lower levels could reopen the path toward previous lows.

It is therefore too early to turn $71,000 into a certain “floor.”

Even the cycle outlook remains contested. Fidelity still refuses to consider Bitcoin’s bear market definitively over, despite the nearly 30% rebound recently observed.

What is established this Sunday is simpler: Bitcoin has reclaimed $78,500, is trading around $79,800 and has not yet broken sustainably above the $82,500-$82,800 area.

Dr Profit is then targeting $88,000. That figure belongs to his scenario. The market structure must first resolve the issue around $82,500.