Analyst: Bitcoin has significant chips turnover forming support at $78k. If it stabilizes above $82k, the real resistance is above $87k.

BlockBeats news—on May 5, crypto analyst Murphy posted that BTC is filling the gap in its chip structure left since November 2024. The most recent high-density chip area is located near $78,000, where approximately 423,000 BTC have completed turnover, indicating that large capital has entered to form support.

He pointed out that turnover in the $79,000 to $80,000 range has decreased noticeably, possibly because it is close to an integer psychological level and a pressure level, leading some funds to choose to wait and see. There is still an unfilled chip gap above the $81,000 to $82,000 range that has not been fully recovered. It is expected that the price will trade sideways and consolidate within this range until the chips have been fully rotated, before attempting to challenge higher levels again.

Murphy emphasized that the chip concentration in the $83,000 to $84,000 range mainly comes from Coinbase’s wallet consolidation, and does not constitute real resistance. If BTC holds above $82,000, the true pressure above will come from the chip-dense area above $87,000.