Bitcoin has pulled back from its recent highs after Strategy, the largest corporate holder of Bitcoin, said it may sell some of its cryptocurrency. The news cooled what had been a strong rally for BTC over the past week.
At the time of writing, Bitcoin was trading at around $81,421, little changed on the day but still at levels not seen since late January 2026.
The coin has gained around 9% over the last seven days and is up 26% since the end of March. That recovery has been steady and low in volatility, which analysts say has helped draw in new buyers.
David Morrison, senior market analyst at Trade Nation, noted the strength of the move. “Bitcoin has shown exceptional resilience, exhibiting steady, low volatility upside progress which has only helped to encourage fresh buying,” he said. He added that mild support sits around $80,000, with stronger support near $75,000.
Analyst Daan Crypto flagged on social media that Bitcoin is trading back above its Bull Market Support Band for the first time in six months. He noted that the weekly candle close would be key to confirming a breakout and a potential trend reversal.
$BTC Is trading back above its Bull Market Support band for the first time in 6 months.
The weekly candle close will be important to confirm the breakout and a possible further trend reversal this week. pic.twitter.com/I1NGwAuMXZ
— Daan Crypto Trades (@DaanCrypto) May 6, 2026
Earlier in the day, risk sentiment got a lift from reports that the U.S. and Iran were close to agreeing on a framework to end the conflict. Axios reported the White House was nearing a one-page memorandum of understanding covering nuclear enrichment and sanctions relief.
BREAKING: President Trump releases a statement amid reports that a deal to end the Iran War is imminent.
"Assuming Iran agrees to give what has been agreed to… Epic Fury will be at an end." pic.twitter.com/5YnAkg1Y8a
— The Kobeissi Letter (@KobeissiLetter) May 6, 2026
The Wall Street Journal added that the proposal was a 14-point plan allowing one month for further talks. President Trump confirmed the outlines of the deal on social media, warning that if Iran did not agree, military action would resume.
Iran’s foreign ministry said it was reviewing the proposal and would respond through Pakistani mediators.
Bitcoin hit a high of $82,790 before pulling back into a consolidation phase. It is currently holding above the 100-hour moving average and a bullish trend line with support around $80,850.
If BTC holds above $81,500, the next resistance levels are $82,750 and then $83,500. A clean break above $82,750 could open the door to $84,200 or even $85,000.
On the downside, a failure to hold $80,200 could see a move toward $78,850, which aligns with the 50% Fibonacci retracement of the recent swing low at $74,940.
Yesterday our trend model for Bitcoin turned positive and we took a position in our Tactica program, which is now fully invested. $BTC
— John Bollinger (@bbands) May 6, 2026
John Bollinger, creator of Bollinger Bands, stated on social media that his trend model for Bitcoin turned positive, with his Tactica program now fully invested in BTC.
The post Bitcoin (BTC) Price: John Bollinger’s Trend Model Turns Positive — He Just Went All In on BTC appeared first on CoinCentral.
