Bitcoin in an uptrend – will we see 86,000 USD?

Bitcoin (BTC) is once again at the center of investors' attention, recording dynamic gains on the daily timeframe. Currently, the price hovers around 84,376 USD, gaining 5.4% in the last 24 hours. Does this trend herald further increases, or are we expecting a correction?

Daily and weekly trend – what does technical analysis say?

The current upward trend on the daily chart suggests that BTC may continue to move upwards on the weekly timeframe as well. Key levels to pay attention to are:

✅ Resistance: 85,000 – 86,000 USD – breaking this level will open the way to 90,000 USD and above.

✅ Support: 80,000 USD – if the price falls below this, we could see a deeper correction.

Some analysts predict that Bitcoin could reach 95,000 – 130,000 USD if the bullish narrative holds. However, experts from Gravions IG indicate that BTC may struggle to break through 85,000 USD by the end of March.

Are we facing a correction?

Despite the optimism in the market, short-term declines cannot be ruled out. After significant increases, profit-taking often occurs, which can result in a correction. Key factors that may influence further price movement:

📉 Macroeconomic data – Fed decisions and the condition of the economy can affect risk appetite.

📉 Support levels – if BTC falls below 80,000 USD, a test of lower levels is possible.

📉 Institutional demand – if funds continue to buy BTC, the price may go up.

Summary

Bitcoin has a chance to break through 86,000 USD, but investors should exercise caution. If momentum is maintained, we will see a new ATH, but in the short term, the market may surprise with a correction. What are your forecasts? Will BTC break 90,000 USD this March? Let us know in the comments!