Bitcoin tests support near $83,075 as $85,500 supply wall caps rebound
- —Weekly POC sits at $85,500, daily POC at $83,300; price trades below both
- —Heavy resistance above at $84,500–86,600, support at $82,900–83,000
- —Drawdown from the $126,038 peak widened to 34.09% from 32.66% a week ago
- —BTC is up 427% from the November 2022 cycle low of $15,770
Why it matters: Holding $82,900–83,000 will decide whether bitcoin extends its correction or rebounds toward $85,500.
Source: TokenPost