Brian Shannon analyzes Bitcoin's critical $80K support test, where two Anchored VWAP levels converge. Will buyers defend this zone or is a pullback to $78K coming?
When Bitcoin returns to a price level that previously held it back, traders face a practical question: will buyers defend it as support? A recent Seeking Alpha article published on TradingView features Brian Shannon's analysis of that test near $80,000, where two Anchored Volume Weighted Average Price (AVWAP) levels converge.
The article, "Bitcoin technicals: Bulls battling at key anchored VWAP confluence," highlights Brian's perspective on Bitcoin's support zone, the possibility of a pullback toward $78,000, and the price action he would watch for a potential year-end advance.
### Two Anchored VWAP Levels Put Bitcoin Support in Focus
Brian's analysis centers on the AVWAP anchored from Bitcoin's all-time high and the AVWAP anchored from its August pivot. With both levels meeting near the same area, traders have a specific zone to monitor as buyers and sellers compete for control.
As the article describes, the all-time-high AVWAP had acted as resistance over the preceding year. Bitcoin's return to that level presents a fresh test: whether buyers can turn a former ceiling into a price floor.
For readers following Bitcoin technical analysis, that shift provides useful context. The reaction around the zone can help them assess whether support is holding or whether price remains vulnerable to another move lower.
### A Possible Shakeout Toward $78,000
Brian also outlines a scenario in which Bitcoin briefly undercuts support and moves toward $78,000. In that case, a swift recovery above $80,000 would be the response to watch, potentially supporting a stronger fourth-quarter advance.
The sequence matters. A move lower alone would leave the recovery unconfirmed. Brian's scenario depends on buyers stepping back in and reclaiming the area.
He also notes that Bitcoin could advance directly from its current support without a deeper pullback. Together, these scenarios give readers concrete reference points for following the next move while leaving room for price to determine which path develops.
> "The market's response around that zone matters more than the zone itself," Brian notes, emphasizing that confirmation comes from price action, not prediction.
### Follow Brian Shannon's Bitcoin Analysis
The feature offers a focused look at how Brian uses Anchored VWAP to evaluate support, resistance, and possible turning points. Readers can see how two distinct anchor points inform his assessment of the same price zone and why the market's response around that zone matters.
For those looking to deepen their understanding, Brian's approach combines technical precision with a trader's intuition—a blend that's served him well over decades in the markets. Whether you're a seasoned trader or just starting out, his insights offer a valuable framework for navigating volatile assets like Bitcoin.
To read the full analysis, check out the original article on TradingView: "Bitcoin technicals: Bulls battling at key anchored VWAP confluence."