Bitcoin Analyst Sees Path to $92,000 or $97,000 Above $81,000 Support

A cryptocurrency analyst believes Bitcoin has room to climb towards $92,000 or even $97,000, as long as it holds onto a narrow support band above $81,000.

The analyst pointed to three signs in Bitcoin's favor: trading above the May high of $82,800, a monthly close above the 50-week simple moving average, and a steady run of higher highs and higher lows since the July low.

The key support zone is $81,600 to $82,937, and if that breaks, the next levels to watch are $78,200 and $75,000.

For Bitcoin to reach the predicted highs, it needs to break above its October 2 high, which is currently the top of the resistance area.