✨𝐂𝐚𝐧 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐑𝐞𝐯𝐢𝐬𝐢𝐭 𝐭𝐡𝐞 $𝟏𝟎𝟎𝐊 𝐌𝐚𝐫𝐤❓❓
Javeria Jacko — Bitcoin (BTC) hovered near $84,500 on April 14 after reclaiming a key resistance level, maintaining bullish sentiment in the market. A daily close above $83,000 has reinforced the possibility of further gains, with some analysts forecasting a rapid ascent toward $88,000 if momentum persists.
At the time of reporting, BTC traded around $84,500, marking a modest 0.89% intraday gain. The cryptocurrency remained just below the converging 50-day and 200-day exponential moving averages, positioned near $85,500.
$85K Resistance Faces Renewed Pressure
Bitcoin is currently testing the upper boundary of a descending channel that has constrained its price action since late February. The $85,000–$86,000 zone continues to act as a major resistance area. On-chain analyst Ali highlighted $86,000 as a critical level—surpassing it could pave the way toward $97,000.
Analyst Friedrich emphasized the importance of the $83,000–$84,000 support range. Should bulls maintain this level, a swift rally toward $88,000–$92,000 could follow.
However, strong overhead selling pressure persists. The 1.618 Fibonacci extension from the November 2024 breakout suggests a long-term target of $105,820—contingent upon confirmation of continued bullish structure.
Inverse Head & Shoulders Structure Emerges
While BTC edges higher, caution remains. Analyst Ali Martinez warned that a pump to $97,000 might be a false breakout aimed at inducing complacency. Similarly, trader Ak47 cautioned that a move to $88,000 could precede a short-term reversal, potentially forming an inverse head and shoulders pattern near $81,000. This structure could ultimately support a breakout targeting $95,000–$100,000.
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