Bitcoin Price Surges Above $80,000 Amid Market Optimism
Bitcoin price has increased above $80,000 and is currently consolidating gains.
- BTC started a fresh increase from the $74,500 zone.
- Price is trading above $80,500 and the 100 hourly Simple Moving Average.
- A key bearish trend line at $78,800 was broken.
- The price reached a high of $83,548 before consolidating gains.
Current Price Levels
- Immediate resistance near $83,200 and key resistance at $83,500.
- If cleared, potential rise to $84,500, which could lead to testing $85,800 and possibly $88,000.
- Immediate support is at $81,400, with major support at $80,500 and $79,500.
- Main support level sits at $75,000.
Technical indicators show bullish momentum: MACD gaining pace in the bullish zone and RSI above 50.