Bitcoin Hits $85,000 – What’s Next?
Bitcoin has officially touched the $85K mark again – a key psychological and technical level that traders have been eyeing for weeks. But what does this mean for the next move?
Here’s the current outlook:
1. Price Range:
BTC is currently consolidating between $83K – $86K after a strong rebound from $74.5K. This signals indecision in the market – a breakout or breakdown could be near.
2. Resistance Levels:
Immediate resistance: $85,141
Major resistance ahead: $90K
A breakout above $90K could open the door to a rally towards $105K.
3. Support Levels:
Strong support: $74K
A fall below this could signal a deeper correction or trend reversal.
4. Technical Indicators:
RSI: Jumped from 60 to 75 – showing bullish momentum.
MACD: Bullish crossover confirmed.
Moving Averages: Mixed signals – short-term cautious, long-term still bullish.
5. Sentiment:
Despite the pump, the Fear & Greed Index is at 33 (Fear) – showing investors are still cautious. Could this be the calm before another leg up?
Final Take:
BTC is at a critical junction. If it can flip $85K into support and push past $90K with volume, we could see new all-time highs. But if it rejects again, prepare for a possible pullback. Stay sharp, watch the charts, and always manage risk.
