#BTCReclaims80K

I think $82K is the most likely test in the short term, but consolidation between $80K and $82K is more likely than an immediate breakout.
* Momentum: BTC rose very quickly from around $77K to above $81,000.
* Short squeeze: The liquidation of more than $400 million in short positions significantly accelerated the move; therefore, it is inaccurate to attribute the entire rise to new spot demand.
* Macro catalyst: The more dovish message from Fed's Christopher Waller lowered expectations for a September rate hike from around 63% to 50%. This is significant relief for BTC.
* Critical resistance: The $81,400–$82,800 range. If the May peak around $82,800 is surpassed, the $85,000–$90K region may come into play.
* Risk: If it fails to maintain stability above $80,000, profit-taking after the short squeeze could lead to a retest of the $78,000–$77,000 levels.
My scenario:
Holding above $80K → testing $82K → breaking above $85,000.
However, rejection around $82K and sideways movement for several days would also be quite normal.
In particular, today's US employment data could affect the fate of this scenario; if rate expectations turn hawkish again, BTC may struggle to hold above $80,000.
I would consider a daily close above $82K a stronger confirmation than the initial breakout at $82,000.
$BTC ‌
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