#Gate广场五月交易分享 Bitcoin price breaks through the $80k resistance level, will there be a larger rally in the future?

Bitcoin price enters a new upward phase, breaking the $80k mark. Currently, Bitcoin is consolidating and may push above $80,500.
Bitcoin has successfully held above $78,000 and has started a new rally.
The current price is above $78,500 and also above the 100-hour simple moving average.
On the BTC/USD hourly chart, an ascending trendline is forming, with support at $79,000.
If this pair remains above $79,000 and $78,500, it may continue to rise.
Bitcoin regains upward momentum as the price finds support near $78,000 and begins a new rally.
Bitcoin accelerates past resistance levels of $78,500 and $78,800.
Bulls even push the price above $80,000.
The price peaks at $80,336 and begins consolidating above the 23.6% Fibonacci retracement level of the move from $74,940 to $80,336.
Bulls are currently active above $78,500.
Bitcoin is trading above $79,200.
In addition, an upward trendline has formed on the BTC/USD hourly chart, with support at $79,000.
If the price stays above $79,200, it may attempt a new rally.
Immediate resistance is around $80,250.
The first key resistance is near $80,500.
If the closing price exceeds the $80,500 resistance, the price could go higher.
In this case, the price may rise and test the $81,200 resistance level.
Any further gains could push the price toward $82,000.
The next obstacle for bulls could be at $82,500.
Will Bitcoin drop again?
If Bitcoin fails to break through the $80,500 resistance, a new decline could begin.
Immediate support is near $79,000.
The first major support is around $78,250.
The next support level is currently near $77,650, which is also the 50% Fibonacci retracement of the move from $74,940 to $80,336.
If the price continues to fall, it may test support at $77,000 in the short term.
The main support level is at $76,000.
If this support is broken, Bitcoin may struggle to rebound in the short term.
Technical indicators:
Hourly MACD – The MACD is currently accelerating in the bullish zone.
Hourly Relative Strength Index (RSI) – The RSI for BTC/USD is currently above 50.
Main support levels – $79,000, then $78,250.
Main resistance levels – $80,500 and $82,000.