Bitcoin Faces Crucial Test at $82,700 as Resistance Looms Near $87,400

Bitcoin's recent advance has put it above $82,700, but its next move depends on whether buyers can defend this reclaimed area against resistance near $87,400.

The cryptocurrency traded around $84,700 at the time of writing after reaching roughly $87,400. The key development was Bitcoin's ability to stay above the $82,700 region after moving through it.

This area has become a crucial test for the market, as holding it would leave the recent high near $87,400 as the next challenge. However, if Bitcoin cannot preserve this reclaimed level, support is expected near $80,450 and then $76,100.