HUGE $82k Level for Bitcoin Price Chart & Altcoin Market, Break Could Trigger Breadth & Confirmation

Added: 2026-05-15

[00:00:13]Hey, what's going on everybody? This is the Blockchain Backer bringing you the latest cryptocurrency news and analysis.

[00:00:22]Today we'll be talking about the Bitcoin price chart and how it's at a pretty critical level as we get ready to wrap up the end of the week. Being back here at the 200 day moving average, being back at resistances for the past year, we really talked about a capitulation structure coming in and then just kind of running sideways as we're flashing a lot of the signs of the bottom in here.

[00:00:41]But of course, the difficult part after getting to that point is figuring out what is the accumulation or the bottoming structure going to end up looking like. As you know, we've seen it really act a lot like 2022. It acted a lot like 2014 in regards to the correction and then the final capitulation to end it. And then even till this day with XRP and with Bitcoin acting a lot like 2014's price action in here. And with the prices we're at right now, we're kind of bucking up against the resistance that either is going to show us longer term problems in regards to like we have to just kind of keep accumulating throughout here for a while. Like we've talked about over here on XRP. There still is just the slow grind, the cruel summer, or we're at a point where there might be something that actually gets triggered in this market if we do actually get through the 200 day moving average. I wrote about this in the newsletter that I published yesterday afternoon over here at blockchainbacker.substack.com titled one push needed to open breadth, Bitcoin's $82,000 big moment, stock market rotating top, ETF lows, and altcoins breath green light. We also went through the developer data there that's going on with the crypto market right now to see who is still floating, who is fading. But one of the questions I get in markets in the morning a lot is, hey, do you think alt season's going to start soon? And traditionally throughout the cryptocurrency market, a true alt season where prices are rampaging to the upside, we're all happy, everybody's singing kumbaya. That typically doesn't happen until we at least get back to the all-time high for Bitcoin. doesn't mean we can't like retrace quite a bit of the fall that happened here in 2025 and 2026, but for an actual full-blown breakout or alt season, we typically need the all-time high for Bitcoin to break, at least based on 2013, 2017, 2021, and 2024, and 2025. That's what we needed. But I think what we would all welcome with open arms would be the opening of breadth. And the breadth tends to mark when the actual bottom is in. on the daily time frame, it has a 100% hit rate of either marking an alt season kicking off or a bottom being put in. Now, it doesn't tell you that like if the breadth turns on, it doesn't tell us that we go straight to moon. You could still definitely correct down in here, but what it implies by that happening after crossing this huge desert where no breadth was by the time the breadth triggers, it has always implied that is our literal bottom. As you can see right now, the breadth has not turned on, right? So, we do have to assume that we're still just kind of working on accumulation schematics happening within here, and we don't actually have like a full-blown signal to tell us, hey, this isn't going to be like 2022 where we go from, you know, $17,000 and we go and hit 15. There was like a slightly lower low that happened for Bitcoin there even after it capitulated. So long as that's closed, that still remains on the table. But it seems we're at like a pretty interesting spot right here because there hasn't been much to say for the last 3 months.

[00:03:31]I'm sure you've noticed that we just kind of say the same thing but trying to say it in fancier ways of being like look you look at the the larger time frames the two week the one week. These are all things that happen when we get down to capitulation phases of bare markets. But there's a lot of unknowns right now on what type of structure it's going to take and will it look like this for XRP or will it look more like this for XRP and that this is just how the markets go after we go through capitulation. They're all different.

[00:03:56]Every single bottom of a bare market has been different and there hasn't been anything in particular to sit there and say, "Hey, this looks kind of critical like something actually could happen here until right now." So with us being back here at the 200 day moving average and with the breadth not being open, we can see over here this is a resistance level. This is exactly the type of resistance level we had back here in 2015 after the market held the support level. Then it capitulated then it found resistance over in here and then it just kept on waddling sideways until we had a spring phase at the end. If this is going to turn into a WO off accumulation, we're at the point of struggle right now. However, if we are capable of breaking through right here, something is going to happen. At least I think it's going to end up happening.

[00:04:41]And it's that the breadth will actually open. I say that because for the first time since September, really September 22nd, September 23rd, we actually do have the 12-hour time frame breadth open right now. As you can see, we've crossed through the big desert of the bare market. Now, we finally have the breadth opening over here on the 12 hours. Now, the 12-h hour time frame has a pretty good track record. It's almost 85% correct on marking that a bottom is already in, but it's not at 100%. And never throughout this channel have I sat here and talked about the 12-hour cuz I'm just not comfortable with it. This is an indicator I built. If I'm going to throw it out there and use it on here, I would like for it to be like perfect and not be like, "Yeah, here's an indicator I built. It's like 50% correct, right?"

[00:05:24]I'd like for it to have 100% track record. On the 12-h hour time frame, it is about 85% correct. However, it's 100% correct on the daily. And what we can see is that we haven't shot up yet on the daily time frame. But the fact that the 12-hour actually is already firing off tells me what we've moved all of our time frames up. There's only one more to go. It's the daily. And it's likely going to get triggered if we can actually get through the 200 day moving average or at least with a convicting break through the 200 day moving average. we will likely see the brights turn on, which means there's a green light for the rest of the market to at least catch a bid. Not necessarily go into a bull run, not go into an alt season. Doesn't necessarily mean it's still not going to accumulate for a year or something, but based on historical behavior of the market, it at least gives us a clue to say, hey, there's a high likelihood that was the true bottom and this will not have a 2022 style event to it where there is a new low.

[00:06:19]That's been the challenge of our accumulation. There's been no challenge on thinking, hey, this was a capitulation. This is how we do these things. We expected the capitulation. It came. We bought it. I bought it. Then it's all right. Here's what this stuff usually looks like afterwards. It's usually slopping, chopping. It's very unknown if it's going to make something like a WO off or it's going to do something like a 2022 style event. And right here, we're at a critical point where if we could bust through in here, it's likely going to mark signals to say, yeah, we're probably not going back there below 60K again. Until then, right now, obviously, it's still in play. The breath isn't open. We're below the 200 day moving average. There's no convicting break happening out of here.

[00:06:55]It's all still on the table. But oftent times we have to find price levels to say, hey, where would something get triggered? Where would something happen at? And we appear to be at that level currently right now. It's our previous support turn to our resistance just like we saw in 2014 and 2015. Previous support turned to resistance. We have our 200 day moving average and we have our breadth right on the cusp of wanting to open in here as we already see it happening over here on the 12-h hour time frame. So, as we head into the weekend, that is obviously going to be the thing to pay attention to. Will this thing just bull flag right here underneath this 200 day moving average for a little while or will it go ahead and bust through? And if it busts through, I do think we are going to trigger the breath. And of course, we would address that right away because the breath has been dead for eight eight months. And so, it's kind of exciting.

[00:07:40]Like, I think for the last several months, it's just been here's the same thing, same thing, same thing. There's been nothing on the shorter term time frame to sit here and say, "Hey, something significant is potentially happening in here." And it's hard to say this is really significant until something actually happens. But what we can see is we know we're right back at the resistance level for something to happen. Either it's going to cause problems here and we're going to go into longer WO off accumulation like so or we're at the point where we could go ahead and trigger the breadth if we go ahead and get out of here. And to be very clear, I'm definitely not calling for it to be something like that. just even to just bust out and just even range that's fine. It would trigger breadth. It would give us time to spend here and set up and say all right well what kind of setup can we do here because it seems pretty likely that's not going to get breached again and over the last 3 months there has been literally nothing to say that hey be like we're in a significant spot here.

[00:08:30]This this could be interesting. We are at one right now. I don't want to give false hopes to say that I know or believe it will bust out of here. Really more just informing you. you can see where we're at and if you do get through it, it's likely going to trigger the breadth to open. So, we know there could be problems here. This could be the spot where the breadth is saying, "Nope, we're not going to get open here at the daily time frame." This could be the spot where Bitcoin says, "Nope, we're not going to be getting through here."

[00:08:54]This is our big problem. So, I don't want to give false hope and belief that we're getting out. We're at that major resistance. This is typically where people are going to sell it. They're going to set stop losses. This is going to be the top of a range. That's the struggle happening here. But if it busts out, it's going to change our picture of what we have going in here. It's not going to imply alt season. That typically takes the all-time high for Bitcoin. I think what it would likely do is give us the ability to stop thinking there's even a possibility of a 2022 style event happening in here where like FTX collapse and Bitcoin goes from 17 to 15. But then we can really start more focusing on the things of being like it's likely low. We're likely just going to accumulate this range and we're not going to breach 60,000 again. And so it's kind of interesting that we're getting to talk about like a shorter time frame context and being at a significant level right now for Bitcoin and the cryptocurrency market because we've had to spend so much time focusing on the bigger time frame context. And the reason we've had to focus on the bigger time frame context is so that when we get to the shorter time frame context and we're making these comparisons that are happening right here, we have the foundation and the receipts down to say it makes sense for us to be looking at it through this angle because we've been looking at it through this angle the entire time. And that our context would be that we are in a situation where we've gotten so oversold like we're at a bottom of a bare market and that our MACD has already fallen down to the levels of where we would be at the bottom of a bare market. And so looking for a context to say can we get the breadth to be able to open and say that was the true bottom is because that's what we do when bottoms are actually marked of bare markets. We go through a desert crossing on the breadth. We have the relative strength levels fall all the way down.

[00:10:32]We have the MACD collapse on itself here on these larger time frames like the two week time frame and then we try to see if we can go ahead and get get our way back out of here. And right now that's where we're at. So if you've been paying attention for the last couple months and you've watched the same thing over and over again about the context of where we're at, well then it makes sense now when we're zooming in on the shorter time frame to say, well, we know the foundation of where we're at. We know the level that we're at. We know this can cause problems in here. We know the breadth is getting right there on the cusp. It's not open, but you can tell it's you could almost say the breadth is at its resistance level, right? Where it's like if it if it cracks through here, the breath is going to open. Or if it rejects from here, it just said, "Yep, it was in time." One more price level move on Bitcoin would trigger it, but we're at this resistance level that historically causes problems. So throughout the weekend, if we end up cracking through 82,000, I would expect that the breadth does trigger and the significance of that implies that $60,000 was our likely bottom. We've had to spend the last 3 months sitting here saying, you know, these are the things we typically do when the bottom has come in in here. We've done these on the indicators. The only thing missing here has been the breadth to give the actual marker. But two out of the three times it didn't set a new low. One time it did. We just kind of need the breadth to be the thing to tell us if it is or isn't. And right now we're right at the resistance where maybe we'll get an answer, right? If it gets through, hey, 60K is probably the bottom. If not, well, we get to keep doing this thing.

[00:11:56]We get to keep doing the dance for a couple more months. So, all eyes on 82K.

[00:12:00]And I I really think it's as simple as that right now. If 82K can get breached, then I think we have a lot to talk about in this market. We'll kind of start looking at things through a different lens and have more creative ideas going on. Till then it is still just the hey this could just be you know getting ready to go into the secondary test of phase B. So all eyes on 82K fingers crossed but realistic about it right it it it's our resistance you know so hopefully. But all right that's going to be it guys. I hope that you had a wonderful week and I hope you have a fantastic weekend. If you have some spare time, check out the newsletter that I published yesterday afternoon titled One Push Needed to Open Breath: Bitcoin's $82,000 big moment, stock market rotating top, ETF flows, and altcoins breath green light. It has a 36-minute audio recording to go with it where I do read the newsletter and go through the charts with you guys.

[00:12:47]There's a link down here in the description of this video to the newsletter, or you can just go directly within your browser to blockchainbacker.substack.com.

[00:12:55]Otherwise, have a great day, guys, and I'll catch you in the next one. That's it. Thank you so much for watching. If you could please like this video and give it a thumbs up. If you're new to the channel, please subscribe and hit the notification bell so you could be notified of when I create new content and when I go live. As always, this is not investment advice and I am not a financial adviser. But if you ever need a pickme up or a little bit of reassurance, just remember that the blockchain backers got your back. Have a good one.