Bitcoin Price Hits $85,330: Bullish Trend with Possible Breakout

The price of Bitcoin (BTC) is currently at $85,330, which is an interesting development after recently surging to $87,385 and then pulling back.

Technical indicators show a bullish alignment, with no damage to the medium and long-term trend. The MACD's DIF and DEA are above the zero axis, indicating weakened upward momentum but not turning bearish.

The Bollinger Bands have narrowed to the $84,357-$85,327 range, with the price running close to the upper band.

According to Liying, conservative traders should buy on the pullback and stabilization in the $84,800-$84,900 range, with a stop loss below $84,500. Aggressive traders can buy on the breakout above $85,400, with a stop loss at $85,100.

Short positions are not recommended, but if it falls below $84,300, Liying suggests trying shorting with a small position and a stop loss at $84,700, targeting $83,800-$83,500.