Bitcoin is testing $80K for the third time. That makes the reaction more important than the level itself: are buyers absorbing supply, or are repeated defenses only delaying a deeper reset?

The key paths are $94K and $65K. A move toward $94K would require BTC to reclaim $80K as support, backed by stronger spot demand and funding that is not already stretched. A break lower would suggest sellers are controlling each failed test and leverage is masking weak spot flow.

Watch spot volume, funding, ETF flow direction, and whether BTC closes decisively above or below $80K. A wick means little. Acceptance above the level strengthens the case for $94K. Rejection with expanding sell volume puts $65K back in play.