- Bitcoin price faces its 365-day moving average near $81,700 after a stalled 24% recovery.
- CryptoQuant identifies overhead supply between $77,100 and $80,200, with additional resistance extending to $88,700.
- Analysts highlight $78,300 as a weekly reclaim level, while CryptoQuant places deeper support around $70,000.
Bitcoin price traded near $77,000 after a 24% rally over two weeks stalled within the $76,000–$82,000 range. CryptoQuant describes the recovery as constructive but identifies several barriers that buyers must overcome.
Its September 11 report places the main technical hurdle at $81,700. Meanwhile, separate analyst updates highlight weekly resistance and persistent whale long positions, adding caution to the recovery outlook.
Bitcoin Price Meets Heavy Supply Below Its Annual Average
CryptoQuant research head Julio Moreno identifies $77,100–$80,200 as the nearest zone of heavy selling pressure. Long-term holders sold as much as 539,000 BTC there during 30 days this year.
Above that area, Bitcoin price faces its 365-day moving average around $81,700. Moreno treats a close above this average as confirmation of a new bull market under his framework.
The next BTC resistance sits near $83,600, corresponding to CryptoQuant’s 3x Metcalfe valuation band. That model uses network activity, including active addresses, to estimate value.
Another barrier appears at $88,700, the upper band of its trader realized price model. Moreno says active traders have historically taken profits around that boundary.
Weekly Reclaim and Whale Positions Draw Trader Attention
Rekt Capital identifies approximately $78,300 as a weekly level that Bitcoin price needs to reclaim and retest as support. His update warns that a weekly close below it could resemble the weaker structure observed in May.
Separately, Ted Pillows notes that Bitfinex whales have maintained long positions despite the rebound. He contrasts this with their historical tendency to reduce longs during advances.
Those positions alone do not establish whether whales expect another decline. Pillows also highlights the contest between sellers near $80,000 and buyers around $76,000.
If Bitcoin price falls further, CryptoQuant identifies the 200-day moving average near $70,000 as potential support. A deeper zone spans $62,000–$65,000, where long-term holders accumulated approximately 476,000 BTC this year.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
