Bitcoin Rebounds Strongly to $87,300: Signs of a Bullish Shift
Bitcoin (BTC) has shown a solid rebound in recent trading sessions, currently priced at $87,300—an increase of 3.51% over the past week. This bounce comes after BTC previously dipped to a low of $84,151, but strong buying support has helped the price recover convincingly.
On the weekly chart, BTC is forming consecutive bullish candles, suggesting growing momentum. It is currently trading above the 7-week moving average (MA) of $83,673 and is approaching the 25-week MA at $92,157. A breakout above this level could confirm a mid-term bullish reversal.
The Relative Strength Index (RSI) sits at 52.16, indicating neutral momentum but with potential upside. Volume remains stable, reflecting healthy interest from market participants. Historically, rebounds from this price zone have led to significant rallies, and traders are watching closely for a break above the $90,000–$92,000 resistance area.
The macroeconomic backdrop also plays a role, as investors look toward Bitcoin as a hedge against inflation and currency devaluation. If the upward trend continues, BTC could re-test the previous local high at $109,588.
Caution remains warranted, but current price action is encouraging for bulls heading into Q2 2025.
