Bitcoin bid returns, breakout in playBitcoin / U.S. DollarFOREXCOM:BTCUSDFOREXcomThe Bitcoin bull case continues to strengthen, reclaiming the $80,000 level for the first time since February on Monday. Having already broken the downtrend running from the October 2025 record high and the key resistance zone between $73,500–$74,500 earlier this year, bulls will now be eyeing a similar move above $80,550, the swing low set on November 21 last year. As seen on the daily chart, when it was broken from above in late January, it triggered an accelerated bearish move with the price bottoming only days later at $60,000. It therefore looms as an important level to watch immediately overhead. A break above $80,550 may encourage others to join the bullish move, with the 200-day moving average, $86,000, $90,000 and $92,000 potential targets to keep on the radar. Longs could be set above the level with a tight stop beneath for protection. A backtest and bounce from $80550 would strengthen the merits of the setup, should the break occur. Strengthening the bullish case, RSI (14) has broken the string of lower highs set since mid-April, pushing further away from the neutral 50 level without yet being overbought. MACD has also staged a bullish crossover, reinforcing the overall message. The one caveat I’d put on the price action is that many parts of Asia are on holidays, thinning volumes. Risk appetite has started the week on the front foot, with more significant gains again seen in AI-related names in those markets that are open. That’s aiding the breakout attempt, but sentiment into Europe may determine whether it sinks or swims. Good luck! DS