Crypto
Bitcoin Trader Eyes Break Below $84K or Above $85K
Bitcoin's price action has been stuck near $84,757.93, according to Michaël van de Poppe, a trader who is waiting for a decisive move before entering fresh positions.
The price of Bitcoin currently sits within its Bollinger Bands, with the upper band at $86,168.84 acting as immediate resistance and the lower band at $82,924.08 providing support.
Key technical indicators such as the EMA50 ($84,118.42) and EMA200 ($80,678.81) continue to define the bullish structure of Bitcoin's price action.
However, with the price testing the upper Bollinger resistance while the Relative Strength Index (RSI) remains neutral, a healthy retracement toward the 50-EMA support at $84,118.42 appears probable before any sustained continuation.