Bitcoin has once again become the center of attention as it nears the $85,000 mark. Analysis indicates potential movement — either toward a new high or another correction.
Growth on the 1-Hour Chart
The 1-hour Heikin Ashi chart shows recovery after consolidation. BTC reached around $82,000 before rising. The 20 SMA piercing above the 50 SMA signals a possible reversal. If the price holds above $85,500, it could lead to a rise to $87,000-88,000.
Bulls' Position on the Daily Chart
The daily chart presents a more complex picture. After rising to $93,000 earlier this year, BTC continues to consolidate between $81,000-82,000. Moving averages indicate bearish dominance. A break above $88,000 could change that, especially if the 200 SMA at $86,205 is surpassed.
Moving Averages and Trend Analysis
Compression of moving averages on both charts indicates upcoming volatility. On the hourly chart, short-term averages are curving up, a bullish signal. On the daily chart, they start to flatten after declines, hinting at a bottom formation phase.
All eyes are on the $85,900–$86,200 resistance zone. A breakout could lead to a rally, while failure might trigger a drop back to $81,000.
