Buying BTCUSD with $79,600 target as rebound odds grow

On the daily timeframe, BTCUSD is drifting lower in a corrective decline. Tuesday morning saw the pair testing a key support zone, where a Doji candle formed, revealing real market hesitation. Buyers are now trying to defend this line, though the bearish pressure isn't letting up, keeping the price near the opening level. 

Indicators back up the cautious picture. The Stochastic Oscillator has slipped into oversold territory. This is a double-edged sword: it confirms the strength of the drop, but it also whispers that sellers might be getting tired. A bullish line crossover hasn't materialized yet, so no trend reversal has been seen. Still, the odds of a technical bounce—or at least a period of flat churn—are high in the near term. 

The Chaikin Oscillator tells a similar story. It is stuck in negative ground and falling, signaling that capital is leaking out. A genuine shift in momentum will only be worth discussing once the indicator stabilizes and starts to turn north. 

Looking at the Fibonacci grid drawn from the $82,044 peak to the $76,047 low, the nearest resistance sits at the 23.6% level, or $77,425. Breaking above it would be the first crack in bearish pressure, paving the way to the $78,300–$78,985 band (38.2% and 50% thresholds). Clear them, and the next target comes into view: $79,600 (61.3%).

The fundamental picture is a mixed bag. On the positive side, Strategy scooped up over $2 billion worth of BTC in a single week, while large wallets expanded their ranks by 11.2% year‑over‑year—both signs of stealthy institutional buying. On the flip side, geopolitical jitters, record-long liquidations, and persistent exchange-traded fund (ETF) outflows keep short-term pressure firmly in place. 

For those ready to make a move, the trading plan below lays it all out: 

Buy BTCUSD at the current price ($77,080). Place Take profit 1 at $78,600 and Take profit 2 at $79,600. Set Stop loss at $75,800.

This forecast is valid from May 19 till May 26, 2026.