Bitcoin, according to the latest chart data from TradingView, remains in an interesting yet tense technical position. After falling to $80,000 on November 21, the price quickly moved into a structure resembling a rising channel, which is clearly visible through the green lines.

Bitcoin cannot overcome resistance

This pattern in technical analysis is referred to as a rising flag. When it forms after a sharper correction, theory suggests that upon its completion, the market usually returns to its previous direction, which in this case represents a decline.

On December 4 and again on December 8, Bitcoin tested the main resistance marked with a white line. This combination acts as a barrier that currently prevents the price from breaking upward. It indicates weak buyer initiative and a lack of sufficient momentum to break the level rooted in the previous correction.

Rejections at these levels suggest that Bitcoin likely lacks the strength to reverse the trend. On the contrary, a continuation of the correction seems more probable, with the first logical stop being the $80,000 level. A decisive reaction is expected there, which will determine the further development.

Currently, Bitcoin has fallen approximately 30% from its highs, creating favorable conditions for entering the market or gradually adding positions. Although the correction may continue, investors can use this decline to buy at a more advantageous price on exchanges like Binance, where they can receive a $100 bonus.

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Possible return to high-volume zone

If the scenario of a continuing correction is confirmed and the $80,000 boundary does not withstand selling pressure, the market will naturally move toward the nearest strong buying zone. This zone starts at around $72,000, where significant transaction volumes from 2024 are located. It is an area that acts as robust technical support. Between $72,000 and $56,000, significant liquidity has accumulated, which has previously been able to reverse the market trend.

If Bitcoin truly returns to this zone, it would be a space where many investors could expect a definitive end to the correction. Historically, this is a price range where long-term buyers activate, often leading to stabilization and gradual formation of a new trend. However, until the market breaks the current resistance, the probability of returning to this area remains high.

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