Bitcoin Price Rallies Towards $85K on Ongoing Bullish Momentum

Bitcoin's price continues its upward trend, inching closer to $85,000 as bulls remain in control. After retreating to the low-$83,000s on September 23, Bitcoin has been steadily recovering ground, with prices trading between approximately $83,300 and $85,300 from September 24-25.

Despite its latest advance being fueled by lighter volume compared to the September 21-23 trading activity, a sustained move above $85,000 could bring $85,300 and eventually $87,374 back into focus. However, rejection at this overhead barrier could keep Bitcoin confined to its recent trading range.

The four-hour chart tells a similar story, with Bitcoin's price reflecting a substantial recovery from its mid-September low of $74,913. The immediate resistance line is within striking distance, with $86,500 and $87,374 representing subsequent upside reference points.