Bitcoin Blasts Past $81K, Next Stop $82-83K or Back to $70K?

Bitcoin's price surged to $81,098.53, marking a 4.8% increase over the past 24 hours and breaking above resistance near its 50-week moving average.

This move comes after a period of uncertainty, with some analysts warning that the weekly chart showed signs of rejection near $80,000 just a day earlier.

On the daily chart, Bitcoin had previously broken out of its trading range before slipping back inside it, known as a 'busted pattern,' which can signal strong underlying momentum but requires price to clear resistance and reach its upside target.

The next level to watch is the $82,000 to $83,000 range, with a clean break above this zone supporting continued gains. However, if Bitcoin stalls here instead, it could form a bearish divergence, signaling a risk of a sharper pullback, potentially back toward $70,000.