Crypto
$82K Resistance Level Falls to Bitcoin as Price Hits $86K
Bitcoin is trading at around $86,000 after breaking above the key resistance level of $82,000. This significant price movement has removed a major overhead supply zone and shifted the burden of proof for investors.
The 50-week moving average (MA), currently sitting near $78,200, $78,800, has historically acted as a dividing line for Bitcoin's price action.
Holding above $82,000 is seen as a bullish signal, as it flips a former resistance zone into potential support. However, a weekly close below the 50-week MA would weaken this thesis and quickly put pressure on investors to reassess their positions.