Bitcoin has climbed roughly 6% over the past week, yet the rally has stalled near the $79,000 resistance zone. Crypto trader Michael van de Poppe says that area has been packed with sell orders and short positions for weeks, which helps explain why price has struggled to break through. In his view, the bullish case remains active as long as $75,000 holds, with a move toward $85,000 to $88,000 still possible over the next one to two weeks.
Heavy order flow keeps Bitcoin pinned below $79K
The report says Bitcoin pulled back slightly after testing $79,468, though its broader price structure still looks stable. Van de Poppe argues that this resistance is difficult because sellers and short traders have been defending it for an extended period. His base case lays out a three-part sequence: Bitcoin tests the $79,000 ceiling, dips modestly to rebuild momentum, and then makes another push higher with $86,000 as the next major target.
He described that pause as normal market behavior rather than a sign of weakness. The market is hesitating, not breaking down. For traders, the question is whether support continues to absorb selling pressure.
Negative funding and rising open interest point to squeeze risk
Derivative data adds another layer to the setup. CoinGlass shows Bitcoin funding at -0.0092%, while open interest has risen to $60.54 billion. That combination suggests a meaningful number of traders are still positioned for downside even as spot price remains relatively firm.
If Bitcoin keeps holding up or starts pushing higher, some of those short positions may be forced to close quickly. That kind of move can create a short squeeze, sending price upward in a compressed period. The resistance zone matters, but so does the positioning behind it.
Support levels now in focus below the market
Not every analyst is looking only at upside. Ted Pillow outlined several downside levels that traders are watching closely. The first nearby support sits around $76,000, followed by $75,650 and $75,400. If selling pressure deepens, the next area to watch is $74,250. The broader line that needs to hold for the bullish structure is $73,200, a level van de Poppe also highlighted.
One more short-term marker is $77,350. If Bitcoin fails to reclaim that level soon, it would suggest the market needs more time before attempting another breakout above resistance.