Apr 22, 2025
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Bitcoin Price Surpasses $87,500, Eyes Break Above $88,800 Resistance
Bitcoin Price Analysis
- Bitcoin is trading above $87,500 and showing upward momentum.
- Support found at $85,000; current price action indicates potential to exceed $88,800.
- A bullish trend line supports the price at $87,300 on the hourly chart.
- Recent high tested near $88,800; consolidation above 23.6% Fib retracement level noted.
- Immediate resistance levels identified at $88,600 and $89,500; closing above $89,500 could lead to a rise towards $90,500 or even $92,000.
- If the price fails to break above $88,800, it may correct downward with support levels at $88,000 and $87,600.
- Technical indicators show MACD gaining in the bullish zone and RSI above 50.
