BTC Challenges Resistance, Recovery Not Complete Yet – Bears vs. Bulls

The first time Bitcoin fell below $80,000 after its all-time high in October 2025 was on January 31 at the end of January. In early February, Bitcoin plummeted from $79,400 to $60,000 in a matter of days. Full recovery from the accident in early February – 100%.

On May 2, 2026, Bitcoin hit its highest closing price since February 2 three months ago. Price is $78,686. It was the highest close in three months while work around resistance continues.

The current resistance area briefly acted as support in early February and was first activated on April 17. This resistance area is $76,900 to $79,500 and has been challenged 12 times so far. This resistance challenge can be interpreted in different ways, bears versus bulls.

Whenever resistance is challenged, bulls view the market as bullish. Bulls might say resistance is getting weaker with each challenge, noting that there have been no strong rejections recently and little upside resistance.

Bears will see an excellent opportunity to short and will assume a lack of follow-through from buyers to support establishing a short position. We sell at resistance levels and buy at support levels. It goes without saying that there are resistances to trading in the market.

Bears will also indicate lack of volume on this chart and a war between the United States and Iran as bearish signals. This has nothing to do with Bitcoin, but bears would say it’s a bearish sign

Bears may ignore the daily and weekly MACD, RSI, and STOCH, or may view these indicators as bearish even though they are all pointing in the direction. Bulls watch from a distance while buying as much as they can, knowing that anything is possible, but when it comes to Bitcoin; when in doubt, walk away.

Will Bitcoin Fall or Rise?

Market sentiment is mixed and the population is confused, but the chart shows that Bitcoin has been growing non-stop since March 29th. Resistance continues to be challenged time and time again, and support is not challenged once after corrective declines. There is a clear bias that goes along with this trend. The market has been rising for about three months now.