#BTC BTC Forecast: Possible Rise to $87,000

Thanks to support from long-term holders (LTH), Bitcoin has already surpassed an important resistance level of $81,863. At the time of writing this analysis, BTC is trading at $83,484.

If the market continues to respond to stable demand from LTH, the price of the cryptocurrency may rise significantly in the near future. With increased demand from retail traders, the cryptocurrency has a chance to overcome the $85,000 mark and reach $87,730.

However, if long-term holders start taking profits, Bitcoin may fall again. In that case, a drop below $81,863 is likely — approximately down to $74,389.