Crypto
Bitcoin Consolidation Tests Resolve Ahead of $88K Resistance
Bitcoin's price has been consolidating around $83.5K after bouncing from the mid-$70K area, and charts show a constructive higher-timeframe structure.
The daily chart shows a substantial recovery from the $76K region, with BTC reclaiming both the 100-day and 200-day moving averages that were previously below it.
However, the Apparent Demand Growth metric on CryptoQuant has recently leaned negative, suggesting that demand has not yet confirmed another sustained leg higher for Bitcoin's price.
The daily RSI shows a bearish divergence between the latest price advance and momentum, indicating that upside momentum has become less convincing while the price stalls just below $88K resistance zone.