Bitcoin Consolidates Below $87K Amid Bullish Daily Chart Structure

Bitcoin is maintaining a strong bullish structure on its daily chart, but recent price action suggests short-term exhaustion after a sharp rally from $76,000 to $77,000.

The key development on the chart is the transition from the earlier accumulation range of $63,000 to $67,000 into the $76,000 to $77,000 range, followed by a breakout above the resistance zone around $81,500 to $82,000. This breakout was supported by increased volume, giving the move more significance.

After accelerating towards approximately $87,000, where selling pressure became clear, the price has pulled back and is now consolidating around $83,000 to $85,000. Notably, BTC has not yet lost the previous breakout zone around $81,500 to $82,000.