Bitcoin Bullish Bias Holds Amid Consolidation Near $82,000
Bitcoin's (BTC) daily chart maintains a bullish bias as it consolidates near the upper end of its recent range. The cryptocurrency broke above the $67,000 resistance with significant volume expansion and rallied toward the $82,000, $83,000 resistance zone. Following this breakout, BTC entered a consolidation phase between approximately $76,000 and $82,000.
The chart clearly shows a strong breakout from the base at $58,000-$67,000, followed by an impulsive move toward $82,000-$83,000 and subsequent consolidation around $76,000-$82,500. The $82,000-$82,500 region has repeatedly acted as an overhead supply zone.
A strong daily breakout above this zone, preferably accompanied by increasing volume, could confirm continuation of the bullish structure and open the path toward $85,000, followed by $88,000, $90,000. A sustained breakout could potentially extend toward the $94,000, $96,000 region over a longer timeframe.