Bitcoin's $80K Test: Will This Support Level Hold or Break?

Jennifer Smith · 2026-11-02

When Bitcoin climbs back to a price level that once stopped it cold, traders everywhere ask the same thing: will buyers show up and defend it this time? That's exactly the question Brian Shannon tackles in a recent analysis featured on TradingView. His focus is the $80,000 zone, where two Anchored VWAP levels are converging. If you're not familiar, Anchored VWAP (Volume Weighted Average Price) is a tool that helps traders see where the big money has been active. When two of these lines meet, it's like a flashing sign that says, "Watch this area closely." ### Why Two Anchored VWAPs Matter Brian's analysis zeroes in on two specific anchors: one from Bitcoin's all-time high and another from its August pivot. Both lines land near the same price, creating a confluence zone that traders can't ignore. As the article points out, the all-time-high AVWAP had been acting as resistance for over a year. Now that Bitcoin is back at that level, it's a fresh test. Can buyers turn that former ceiling into a floor? That's the million-dollar question. For anyone following Bitcoin technical analysis, this is a key moment. The reaction around this zone will tell us whether support is holding or if price is vulnerable to another drop. ### The $78,000 Shakeout Scenario But here's where it gets interesting. Brian also lays out a scenario where Bitcoin briefly dips below support and heads toward $78,000. In that case, the key is what happens next. If buyers step in and push price back above $80,000 quickly, that could set the stage for a stronger fourth-quarter rally. The sequence matters: a move lower alone doesn't confirm anything. It's the recovery that counts. Brian's scenario hinges on buyers reclaiming that area. He also notes that Bitcoin could just as easily advance straight from current support without a deeper pullback. So, these scenarios give traders concrete levels to watch, while letting the market decide which path it takes. ### How to Use This Analysis The feature gives a focused look at how Brian uses Anchored VWAP to evaluate support, resistance, and potential turning points. It's a great example of how two different anchor points can inform your view of the same price zone. And why the market's response around that zone is what really matters. If you want to dig deeper, you can read the full article on TradingView: "Bitcoin technicals: Bulls battling at key anchored VWAP confluence." (Note: external links may be nofollow.) > "The reaction around the zone can help them assess whether support is holding or whether price remains vulnerable to another move lower." – Brian Shannon So, whether you're a seasoned trader or just curious about Bitcoin's next move, this analysis offers valuable insights. Keep an eye on that $80,000 level. The battle between bulls and bears is heating up, and the outcome could set the tone for the rest of the year.