Bitcoin - Bulls Too Weak To Build A ReAccumulation Range?
One shoulder may still be missing and here is where price could form it
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Could $70k-80k Be The Home For The Right Shoulder?
On the Weekly, Bitcoin is still trying to retest the top of its Macro Range between 60k (lower green zone) and 80k (yellow zone) as new support.
But perhaps more crucially, there is a range overhead that price has been failing to reach and resynchronise with.
That is the blue-to-blue range between $86,681 (lower blue horizontal) and $93,659 (upper blue horizontal).
As long as Bitcoin fails to enter that range, it would continue to inhabit the region between the lower blue level and the orange zone until a failed retest of some sort takes place.
A failed retest of ~$80k would see price drop back into the market structure that is the 60k-80k range, specifically into its upper portion, with the Mid-Range sitting somewhere in the $70k region.
However, $70k has been home to sinusoidal price action, and earlier this year it proved not to be a particularly strong support.
So right now - which range will Bitcoin continue to inhabit?
Certainly not the blue-to-blue range for now, because price is rejecting from the lower blue level of $87.4k, the very bottom of that range.
And if the $80k region produces less and less of a reaction, there is a real opportunity for price to drop into the upper portion of the Macro Range.
That would make 70k-80k a potential home for a Right Shoulder, as that would mark the upper half of the Macro Range of $60k-$80k.
That Right Shoulder would be asymmetrical relative to the Left Shoulder in such a scenario.
But it would nonetheless mean an Inverse Head and Shoulders formation is developing, with scope for Re-Accumulation later down the line, probably in early 2027.
Historically, the early pre-halving year is where Bitcoin has tended to develop a Re-Accumulation Range.
And that history may well repeat in 2027, especially if the $80k region fails to deliver the necessary buy-side reaction.
Of course, we've seen major technical milestones occur much earlier than historically has been the case: a probable Bear Market bottom may very well be in already, it took place much sooner and at much shallower a retrace depth.
But does that mean that every technical milestone has to be "accelerating" going forward? Or can price waste time by moving sideways, eating into that outstanding acceleration, allowing for the cycle to cooldown and resynchronise to a certain extent?
If Bitcoin fails to build a ReAccumulation Range in 2026, then we'll have strong evidence for slowing down in the cycle after a phenomenal few months of upside; that's not a bearish take by no means. Periods of outperformance are always followed by periods by underperformance as part of mean reversion, after all.
Nonetheless, Bitcoin is holding $80k as support.
The retests haven’t been too convincing and haven’t produced much follow-through, but the positioning for bullish momentum is there; it's just that the bullish volume to match the positioning hasn't found its way into the market as of yet.
Even so, continued clustering above $80k is bullish confirmation to a certain extent, because positioning above that level means price can still rally higher.
The concern is what happens if Bitcoin keeps rejecting from the lower blue level of $87.4k without buy-side volume stepping in while price maintains this positioning.
That would be a sign of weakness, suggesting buy-side pressure in the ~$80k region may be waning, which keeps opening up the potential for a Right Shoulder.