Crypto
Bitcoin Breaks $84k: Bulls Face Key Resistance Test at $85,500
Bitcoin (BTC) has surged past $84,000, reaching a price of $84,549 as of September 21 at 10:20 AM GMT/6:20 AM EDT.
The market is showing strong bullish sentiment across various timeframes, including the 1-hour, daily, and weekly charts. However, short-term momentum is considered overheated.
From a technical perspective, the first resistance zone to watch for BTC is between $85,162 and $85,511, which represents the intersection of 1-hour and daily pivot models.
The immediate test for Bitcoin will be its ability to convert the resistance zone of $84,000-$85,000 into support. If it fails to do so, a pullback towards $83,700 or even lower could occur.