Bitcoin Price Recovery Targets Above $84,000 and $85,000 Levels

Bitcoin is experiencing a recovery above the $80,000 mark, with potential moves targeting the $84,000 and $85,000 levels.

BTC started recovering above $80,000.
Current trading above $82,000 and the 100-hourly Simple Moving Average.
A bullish trend line is forming with support at $82,000 on the hourly chart.
If Bitcoin clears $84,000 and $85,000, it may see further increases.

Price Movement Overview

Bitcoin has established a base above $78,000 and recently moved past the $80,000 resistance. The price surpassed the 23.6% Fibonacci retracement level from the recent downward wave.

Immediate resistance is identified near $84,000 and the 50% Fibonacci retracement level. Key resistance levels are at $85,000 and $85,650.

A close above $85,650 could lead to testing resistance around $86,500, with possible gains reaching up to $88,000 or $96,200.

Potential Decline

If Bitcoin does not surpass $84,000, a decline may occur. Immediate support is near $82,000, followed by major support levels at $81,200 and $80,000. A significant drop could test the $78,000 level, with main support at $76,500.

Technical indicators show:

MACD gaining pace in the bullish zone.
RSI for BTC/USD above the 50 level.

Support levels: $82,000, $81,200. Resistance levels: $84,000, $85,000.