Bitcoin Price Faces $78K Threat as Sellers Hammer Key Support

Bitcoin’s price traded near $80,500 Saturday morning, Oct. 24, with sellers controlling the shorter time frames despite longer-term technical indicators remaining positive. Exchange aggregation sites recorded a 24-hour low of $80,409, while Bitstamp logs identified support near $80,351 per coin. The technical picture remains bearish beneath $82,000, although largely neutral oscillators suggest the latest selling pressure has yet to develop into a decisive momentum breakdown. Bitcoin’s price hovered around $80,500 on Saturday morning, around 8 a.m. Eastern time, with the leading cryptocurrency pinned near the bottom of its daily trading range while shorter-term technical indicators continued flashing bearish warnings. Although the broader technical structure hasn’t entirely surrendered to sellers, the contrast is becoming increasingly difficult to ignore: Around ten of 15 moving average readings favor the downside, while nine of…

First reported by Bitcoin.com News. This page is a short excerpt; the full text is theirs.