Bitcoin – 85,000 as the New Key Level

Bitcoin – 85,000 as the New Key Level

In recent weeks, the 92,000 and 100,000 USD levels have been key focal points for Bitcoin. However, after the latest pullbacks, the 85,000 USD mark has now taken center stage as a crucial support area.

It is evident that Bitcoin is struggling to break away from this level, with constant battles between bulls and bears. Additionally, the 200-day moving average (Mov200), marked by the orange line, appears to provide potential support. A break below 85,000 USD and the Mov200 could generate further bearish momentum and put the uptrend at risk.

For new long opportunities, Bitcoin needs to reclaim the 85,000 USD level convincingly. Ideally, a sequence of higher highs and higher lows should develop, signaling renewed upside potential.

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