Bitcoin Trader Eyes Sweep Lower or Reclaim Higher Ground

Bitcoin trader @CryptoMichNL is keeping a close eye on the current price of BTC at $86,429.79. According to their analysis, there are two possible paths for Bitcoin: either it will sweep lower or reclaim higher ground.

The price is currently sitting inside the Bollinger Bands, with an upper resistance level at $86,181.49 and a lower support level at $82,761.46. The EMA50 (Exponential Moving Average 50) is at $84,090.67 and the EMA200 is at $80,615.26.

The momentum RSI(14) is at 51.73, indicating a neutral sentiment, while the MACD(12,26) has printed a bearish death cross at 249.25. This setup suggests that before Bitcoin can reclaim higher ground, it may need to test lower band support.