Bitcoin Sellers Regain Edge as Weekend Liquidity Risk Looms

Bitcoin is sending traders a clear signal headed into the weekend: sellers are back in the driver's seat, at least for now. The price has been grinding inside a defined range since August 21, with the floor sitting between $75,688 and $76,229 and the ceiling stretching from $81,517 to $82,281. Neither camp has broken out — but the short-term edge has shifted bearish.

Earlier this week, sellers got their shot at cracking that lower support zone and whiffed. When support holds after a serious test, short sellers cover and dip buyers pile in — that's exactly what pushed Bitcoin higher during Friday's session. Buyers then had their turn, rallying the price toward the week's high near $80,500. They couldn't close the deal either, topping out at $79,837 before the move stalled just under the psychologically loaded $80,000 level.

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That rejection mattered. Bitcoin couldn't hold above either the 100-hour moving average at $78,218 or the 200-hour moving average at $79,104. With price now hovering near $77,277 — below both technical benchmarks — the near-term bias is clearly tilted down. Want to flip it bullish? Reclaim $78,218 first, then $79,104. Get above both and $80,000 becomes the target again, with the upper range boundary beyond that.

Sellers still have real work to do, though. Pushing below $76,229 — and sustaining a break under $75,688 — is what actually confirms a range breakdown. That kind of move could trigger a cascade: dip buyers bail and momentum traders pile on. Until that happens, you're still inside the chop zone.

One more thing to watch: weekend liquidity. Bitcoin trades 24/7 but volume thins hard once traditional markets close Friday. Thin order books mean smaller trades can whip price around more than usual. Don't chase a breakout unless Bitcoin can back it up with real follow-through. Continue reading at Forexlive.