Bitcoin's $80K Test: Will Bulls Hold the Line?

Emily Johnson · 2026-11-02

Bitcoin is back at a price level that's been a tough nut to crack. Around $80,000, two key Anchored VWAPs are converging, and traders are watching closely to see if buyers will step up. Brian Shannon recently shared his take on TradingView, and it's worth a look if you're trying to make sense of this setup. ### The Convergence Zone: What It Means So what's the big deal about two AVWAPs meeting? Anchored VWAP is like a moving average but anchored to a specific event—in this case, Bitcoin's all-time high and its August pivot. When these two lines converge, they create a zone that can act as strong support or resistance. Right now, both are sitting near $80K, and that's where the battle is happening. As Brian points out, the AVWAP from the all-time high had been acting as resistance for over a year. Now that Bitcoin has returned to it, the question is: can buyers turn that former ceiling into a floor? If they do, it could be a launching pad for the next leg up. If not, we might see another pullback. ### The $78K Scenario: A Shakeout or a Breakdown? Brian also lays out a scenario where Bitcoin briefly dips below support and heads toward $78,000. In that case, he'd be watching for a quick recovery back above $80K. That kind of shakeout could actually strengthen the case for a year-end rally, as it would shake out weak hands and confirm buyer interest. But here's the thing: a move lower alone doesn't confirm anything. It's the recovery that matters. If buyers don't step back in, the support might not hold, and we could see a deeper correction. On the flip side, Bitcoin could just take off from here without any pullback. Both scenarios are on the table, and Brian's analysis gives you concrete levels to watch. > "The reaction around the zone can help them assess whether support is holding or whether price remains vulnerable to another move lower." ### How to Use This in Your Trading If you're trading Bitcoin, this isn't just about watching the price. It's about understanding the context. The AVWAP confluence gives you a clear zone to monitor. If price holds above $80K, you might look for long opportunities. If it breaks below and fails to recover, you might consider shorting or waiting for a better entry. And remember, Brian's analysis isn't a prediction—it's a framework. He's giving you the tools to make your own decisions, not telling you what to do. That's the mark of a good analyst. So next time Bitcoin hits a key level, don't just react. Look for the AVWAPs, see where they converge, and think about the scenarios. It might just give you an edge.