Bitcoin Eyes $78,340 as Bulls Attempt September Reversal
BTC stabilized near $77,165 but analysts warn the broader trend remains bearish until price sustains above key resistance.
Bitcoin is mounting a tentative recovery attempt heading into September 2026, bouncing from a local support floor at $77,165, but market analysts caution that the broader structure has not yet flipped bullish. According to a Forexlive technical breakdown, BTC carries a prediction score of -3 on a scale of -10 to +10 — signaling a modest bearish edge even as short-term order flow shows signs of improvement.
The critical line in the sand for bulls is $78,340. Analysts say Bitcoin must sustain trading above that level — not merely spike through it — before the reversal gains credibility. A stronger structural confirmation would come only if BTC achieves clear acceptance above the $79,730–$79,920 zone, a range still out of reach for now. Conversely, a sustained breakdown below $77,165 would invalidate the current recovery thesis entirely.
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Order-flow data offers the most nuanced read on what is actually happening beneath the surface. On August 28, Bitcoin climbed from local lows despite aggressive sellers posting a negative delta of 112 on volume of 3,294 — a sign that resting buyers absorbed the selling pressure near $77,165 and drove price higher anyway. That type of bullish absorption, where price defies aggressive selling, is considered a credible early signal by technical traders.
The picture turned murkier on August 30, when Bitcoin declined even as delta finished positive at 67 on lighter volume of 535 — indicating passive sellers were neutralizing buyer aggression. By August 31, however, conditions improved again, with price rising alongside a positive delta of 68 on volume of 1,106, suggesting buyer momentum was finally translating into sustained upward price movement.
The analytical takeaway is straightforward: Bitcoin is stabilizing, not reversing — at least not yet. The sequence of seller absorption, buyer absorption, and renewed buyer aggression represents legitimate structural repair, but significant resistance overhead means bulls still have meaningful work ahead. Continue reading at Forexlive.
