#MarketRebound
Bitcoin (BTC) price rallied sharply on Wednesday, surpassing $83,500 after U.S. President Donald Trump announced a pause on tariffs, sparking optimism across financial markets. The crypto market cheered the move, with BTC gaining more than 5% in the past 24 hours. According to data from Kraken, BTC broke past multiple resistance levels, including a bearish trendline at $78,800 and key resistance zones at $80,500 and $82,500. The bullish momentum followed a strong rebound from the $74,500 support area.
Bitcoin Price Analysis: Bulls Take Charge
Bitcoin is now trading comfortably above $80,500 and the 100-hourly simple moving average, signaling a bullish bias. A high was formed at $83,548, and the asset is now consolidating gains just below immediate resistance levels.
Immediate resistance: $83,200
Key breakout level: $83,500
Next major resistance: $84,500
Potential upside target: $85,800 to $88,000
If BTC clears the $84,500 level, analysts expect further upside, with $88,000 in sight as the next major bullish target.
Support Zones to Watch
If the price fails to maintain momentum above $83,500, a short-term correction may be on the horizon. Immediate support lies at $81,400, followed by $80,500—both seen as strong buffers in case of a pullback.
A deeper correction could test:
$79,500 (50% Fib retracement from $74,572 low to $83,548 high)
$78,000 zone
Key floor: $75,000
Technical Indicators Show Strength
MACD (Hourly): Gaining momentum in the bullish zone
RSI (Hourly): Holding above the 50 level, suggesting buyers remain in control
Bitcoin’s technical setup suggests a continuation of the rally as long as $80,500 support holds. The bullish sentiment is further reinforced by Trump’s pause on tariff policies, which has injected fresh optimism into risk assets, including cryptocurrencies.
