Bitcoin gained 5.49% on Sep. 18, breaking above $80,000 after rebounding from a monthly low near $75,560. Short liquidations helped speed the recovery, and traders now watch whether the rally can clear resistance near $82,000.
Bitcoin claws back the September range
Bitcoin traded near $80,600 after opening the daily session at $76,417, a 5.49% advance that reversed most of the earlier decline. The move followed a drop to about $75,560, Bitcoin's lowest level this month, before buyers pushed the price through $78,000 and $80,000 in two rapid advances.
Bitcoin briefly touched an intraday high of $81,258 before pulling back below $81,000, showing sellers remain active near the top of the range. Even so, the daily candle's real body covers more than $4,000.
The recovery returned Bitcoin to the range it held before the Sep. 15 sell-off, though price must hold above $80,000 to turn that former resistance into support. Increased bearish positioning during the fall below $76,000 fed the rebound, as forced buying from short liquidations sped up the move once price cleared nearby resistance.
Momentum builds across daily and 4-hour charts
Bitcoin trades above its 20-, 50-, 100-, and 200-day moving averages, with the 20-day sitting at $78,150, the closest dynamic support after the breakout. The 50-day stands at $72,498, while the 200-day and 100-day sit near $70,432 and $67,976.
The daily relative strength index rose to 62.93, above its moving average of 57.38 — a reading above 50 that signals strengthening momentum but stays below the overbought level of 70. Bulls need a daily close above roughly $82,000 to set a higher high and provide stronger evidence the September correction has ended.
On the 4-hour chart, the Supertrend indicator flipped bullish, with support near $77,828 after price cleared the prior bearish line around $78,597. Aroon Up reached 100%, while Aroon Down fell to 14.29%, pointing to a sharp shift in short-term momentum. A close below $77,800 could send Bitcoin back toward $76,000 and the monthly low near $75,560.
Liquidity clusters point to $82,000 and $84,000
CoinGlass's 24-hour liquidation heatmap shows leveraged-position clusters concentrated around $81,500 and $82,000, extending toward $84,000. A break above the intraday high followed by a sustained move through that zone would leave approximately $84,000 as the next visible liquidation area. Below the market, liquidity sits near $80,000 and $79,300, with larger bands between $76,000 and $77,500 that could become a target if the breakout fails to hold.
Analyst points to a repeat channel breakout
Crypto analyst Batman said Bitcoin broke out of a descending-channel formation similar to a setup that preceded an earlier 24% gain, writing that BTC had cleared "the same descending channel setup that led to a 24% move last time."
Batman said the breakout has further continuation potential, though the earlier move doesn't guarantee a repeat, with confirmation depending on whether Bitcoin holds above the channel and clears resistance near $82,000. Until Bitcoin records a daily close above $82,000, the charts support a short-term bullish reversal rather than a confirmed breakout from the wider range.
Source: crypto.news
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