BTC Support & Resistance: $79,832.88
The nearest confirmed floor below Bitcoin's price and ceiling above it, worked out mechanically. A broken level is never left on the wrong side and called support or resistance. A level only counts after it has survived 10 days, so the lines are never redrawn after the fact.
A floor is a confirmed turning point below today's price. A ceiling is a confirmed turning point above today's price.
This chart finds those points automatically, accepts one only after 10 days, then draws the nearest confirmed level on each side of price.
The price coming down toward the floor is a test of a level that held before; a daily closing price below it means that level has genuinely failed. For example, with the price at $102,000 and the floor line at $96,500, there is about 5% of room before that floor is broken.
A brief spike through a line during the day **does not** count here โ **only** a closing price through the level counts as a break.
In words: a low is accepted when a day's closing price is the lowest within 10 days either side of it, and it is **only** drawn 10 days later. Highs are found the same way in reverse. From the confirmed lows and highs known on each date, the closest low below price is support and the closest high above price is resistance.
It uses daily closing prices **only**, so spikes and dips inside a day are ignored. The 10-day wait is deliberate โ levels **never** move retroactively, but a fresh turn takes 10 days to appear. If price is above every confirmed high, there is no honest resistance to draw, so the resistance line is absent.
Own BTC daily closes (btc_price_daily, 2010 to today).
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