Bitcoin Holds Above $85K, $90K Upside Targeted
Bitcoin's price has held firm above $85,000, with the current value sitting at $86,133.82. Analysts like CryptoMichNL are calling the upper scenario intact, with the price flipping $85,000 acting as the clear trigger for fresh upside targeting $90,000. This aligns with the past six months of steady accumulation.
The price is currently sitting inside Bollinger Bands, with the upper resistance at $86,727.34 providing a layer of support. The 50-EMA at $84,700.03 and 200-EMA at $81,463.67 also provide additional support, while the MACD golden cross at 475.87 and neutral RSI at 62.86 confirm a bullish structure without overbought signals.
This combination of technical indicators suggests that the path is open for continuation once $85,000 clears, potentially leading to further price increases.