Bitcoin Surges Past $85,000, Eyes on $100,000 Breakout

Bitcoin has regained its momentum and is now trading above $85,000 after breaking through the $80,000 to $81,000 resistance level.

The cryptocurrency's price has increased by about 4.4% in the last day and 9% over the past seven days, making it a strong breakout candidate for further gains.

From a technical standpoint, Bitcoin has surpassed its 200-day moving average, which had previously served as resistance between $80,000 and $81,000.

The immediate resistance is found between $87,000 and $88,000, but if Bitcoin can break through this level, it would leave relatively little visible resistance before reaching the psychological target of $100,000.