- Bitcoin traded at $80,166.8 on November 5, below $81,200–$81,970 resistance.
- Glassnode found BTC spot and ETF volume held at 1.5x its pre-August baseline.
- BTC remained above $78,566.7, with $75,734–$76,519 marking its key support.
Bitcoin traded around $80,167 on November 5, recovering from support near $75,734–$76,519 but remaining below critical overhead resistance. The four-hour TradingView chart shows the BTC price above its shorter moving average, while a longer average still caps the rebound.
Glassnode data suggest trading interest has held up during the pullback, although fresh demand remains uncertain. That leaves $81,200–$81,970 as the immediate test of whether Bitcoin’s recovery can extend.
Bitcoin Price Holds $80K as $81,970 Resistance Caps Recovery
The supplied BTC/USDT chart, captured at approximately 12:17 UTC, placed Bitcoin at $80,166.8. Buyers had lifted the price from early-November lows before momentum slowed near $80,400. The blue 50-period moving average (MA) stood near $78,566.7, below the market price.
Bitcoin therefore traded above its shorter-term trend reference, although that average continued sloping downward. However, the black 200-period MA remained higher at $81,582.3, inside the highlighted $81,200–$81,970 resistance zone.
A sustained four-hour close above $81,970 would indicate that buyers had cleared both horizontal resistance and the longer moving average. That would bring the next supply region around $84,350–$84,950 into view. Until then, the rebound remains vulnerable to selling near $81,600.
Glassnode Finds Bitcoin Volume 1.5x Above Pre-August Levels
Glassnode reported on November 4 that seven-day average trading volume across spot exchanges and U.S. spot Bitcoin ETFs remained approximately 1.5 times its mid-July to mid-August baseline.
Activity declined after August’s breakout but stayed elevated through Bitcoin’s subsequent correction. However, higher turnover does not necessarily indicate stronger net buying. U.S. spot ETFs recorded nearly $1 billion in net outflows over two weeks through November 2, including $640 million that day.
Meanwhile, ETF trading averaged approximately $1.3 billion daily since May, indicating limited fresh institutional demand. Glassnode further reported only 38% of short-term holder supply in profit, compared with at least 97.5% in early October.
Follow us on X for real-time crypto updates.
Bitcoin’s $78,567 Average and $75,734–$76,519 Support Remains Crucial
If Bitcoin slips below $80,000, the 50-period SMA around $78,567 becomes the first moving-average support to watch. Glassnode’s True Market Mean near $77,700 provides another reference. Below that, the TradingView chart marks stronger support between $75,734 and $76,519.
Glassnode separately places the short-term holder cost basis around $75,700. A sustained break beneath this cluster would weaken the recovery. Conversely, holding $78,567 while challenging $81,970 would keep the higher resistance zone in focus.
Key Bitcoin Support and Resistance Levels
| Level | Technical Significance |
| $84,350–$84,950 | Higher resistance and bullish target |
| 81,200–81,970 | Immediate resistance and breakout zone |
| $80,000 | Psychological support |
| $78,566.7 | 50-period MA support |
| $77,700 | Glassnode True Market Mean |
| $75,734–$76,519 | Major support zone |
Bullish Case
A sustained four-hour close above $81,970 could open a recovery toward $84,350–$84,950.
Bearish Case
Meanwhile, losing $78,567 could expose $77,700, followed by $75,734-$76,519 support.
FAQs
Bitcoin faces immediate resistance between $81,200 and $81,970, where sellers could challenge further upward price movement.
Bitcoin’s next bullish target lies between $84,350 and $84,950 if buyers successfully break above immediate resistance.
Bitcoin’s strongest identified support zone lies between $75,734 and $76,519, where renewed buying interest could emerge.
Glassnode reports Bitcoin trading volume remains 1.5 times its pre-August baseline, despite activity declining after August’s breakout.
Subscribe to our YouTube channel for the latest crypto news.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
