Bitcoin Stuck in Consolidation Phase Around $84,000

Bitcoin's price has consolidated near $84,000 after facing repeated rejection around the $87,000 level. The market is focused on whether the recent recovery can continue.

The coin managed to rise significantly from the mid-$70,000 area, but failed attempts to break above the resistance level have seen the formation of a range between the latest ceiling and an essential support level.

A move above $85,000 would put the recent $87,000 high back under scrutiny, while a decisive break above that resistance would change the current range structure.