Bitcoin To Get ‘Interesting’ As Price Retests $85,000 – Here Are The Levels To Watch 💹
Bitcoin has surged nearly 4% in the past 24 hours, retesting the $85,000 resistance level. Analysts suggest a potential jump to $90,000 is possible in the near future. The price movement coincides with the Federal Reserve's recent interest rate announcement, which set the upper bound at 4.50%, aligning with expectations.
Market analyst CRG highlights the importance of the Federal Reserve's forward guidance and its impact on Bitcoin's performance. Daan Crypto Trades emphasizes the role of the FOMC volatility in determining whether Bitcoin can reclaim the $85,000 barrier or fall back to previous lows.
The $80,000-$81,000 and $85,000-$86,000 price ranges are critical as Bitcoin navigates this period of volatility. Analyst Rekt Capital notes a decline in seller volume, pointing to increased buyer activity as a potential catalyst for upward movement.
While Bitcoin reached a 10-day high of $85,880, analysts warn that it needs to hold above the Daily 200MA/EMA cluster to maintain upward momentum. Failure to break resistance may result in a drop to $73,500. Investors are advised to monitor these levels as potential shift indicators.
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