Today, the cryptocurrency market shows a rise in Bitcoin's price despite the bearish trend that started the day. Let's review the current trends and forecasts for BTC.
Current Market Situation
According to CoinStats, despite Wednesday's bearish trend, some cryptocurrencies, including Bitcoin, are starting to return to the green zone.
Bitcoin Analysis on the Hourly Chart
On the hourly chart, BTC is trying to reach the local resistance level of $85,235. If bulls' pressure continues, there is a chance for a test of the $86,000 level.
Midterm Bitcoin Forecast
From a midterm perspective, Bitcoin's price is accumulating energy with low volumes, indicating a lack of sharp market movements in the near future. Attention should be paid to the candle's closure; if it happens around $86,000, it may lead to continued growth to the $88,000-$90,000 area.
The current market dynamics indicate an attempt by Bitcoin to regain its position despite the overall bearish trend.
