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Today Technical Analysis: Bitcoin reaches highest level since May, nearing $80,000

August 24, 2026, 07:37
Today Technical Analysis: Bitcoin reaches highest level since May, nearing $80,000

Bitcoin Technical Analysis

Bitcoin shows a strong bullish trend on the 1H chart, trading around $77,390. After reaching a peak above $79,500, price has entered a consolidation phase around $77,000–$78,000.

The moving averages remain supportive. Price is currently sitting slightly above all three averages MA(5), MA(10), and MA(20), but the averages have begun to flatten, reflecting the loss of short-term momentum.

The immediate resistance is $78,000, followed by the recent high at $79,503. A decisive break above $79,500 would confirm another bullish continuation and put the psychological $80,000 level in focus. On the downside, $77,100–$77,300 is the first support zone. Overall, the bias remains bullish while bitcoin holds above $77,000, although a break below the short-term moving-average cluster could trigger a deeper pullback toward $75,000–$74,000 before buyers potentially return.

Bitcoin 1H Chart

Bitcoin 1H Chart

Source: STARTRADER app | Bitcoin surges to highest level since May, nearing $80,000

Resistance78,00079,45880,000
Support$76,28275,06474,215

Gold Technical Analysis

Gold continues to display a strong bullish structure, trading around $4,648. The moving averages MA(5), MA(10), and MA(20) are strongly bullish. All three are rising and price remains above them, confirming that buyers continue to dominate the short-term trend.

The immediate resistance is $4,656–$4,660, corresponding to the current high. A clean break above this area could extend the rally toward $4,687, followed by the psychological $4,700 level. On the downside, $4,642 is the first short-term support around the MA5, followed by $4,630 and $4,617. A deeper correction could bring price to the previous breakout area around $4,590. Overall, the technical outlook remains strongly bullish.

Gold 1H Chart

Gold 1H Chart

Source: STARTRADER app | Gold extends rally beyond $4,600 following heave sell-off on the USD

Resistance$4,660$4,700$4,755
Support$4,627$4,600$4,562

Nasdaq Technical Analysis

The Nasdaq 100 is showing a short-term bearish structure, trading around 29,093. Price has now broken below the 29,320 area, indicating that sellers currently have control of the short-term trend.

The moving averages MA(5), MA(10), and MA(20) support the bearish bias. Price is trading below all three averages. More importantly, they are stacked in bearish order, with the shortest average below the longer ones. This indicates that short-term momentum remains negative.

The immediate support is 29,090. A decisive break below this level could expose the 28,986 region and potentially lead to a deeper correction toward 28,800–28,700. On the upside, 29,320 is now the first resistance, followed by 29,650 and the previous high around 30,217. The technical bias therefore remains bearish below 29,320, with a recovery above that level required to stabilize the structure and suggest that buyers are regaining control.

Nasdaq 1H Chart

Nasdaq 1H Chart

Source: STARTRADER app | US Stock indices trade lower ahead of Nvidia and Marvell earnings

Resistance29,19429,30029,450
Support29,00028,84528,723

Risk Disclaimer: This material is provided for informational purposes only and does not constitute a recommendation or investment advice. Trading financial instruments on margin involves substantial risk and may not be appropriate for all investors.

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