Bitcoin Struggles with Resistance at $84,000-$86,000 Price Range
Over the past week, Bitcoin (BTC) remained stagnant, facing rejections around $86,000. The market showed no major pullbacks, indicating investor uncertainty.
Technical Analysis Highlights
- Bitcoin experienced a 22% loss since its all-time high in January, attributed to international trade tariff issues.
- A pause in new tariffs and global negotiations led to a brief price rebound in early April, but BTC is now consolidating between $84,000 and $86,000.
- Key resistance factors include a diagonal downtrend line, the 200-day Exponential Moving Average (EMA), and the 200-day Simple Moving Average (MA).
- The 200-day EMA reacts faster to price changes than the 200-day MA, making it important for spotting medium-to-long-term trends.
Resistance Levels
- Ultimate resistance is identified at $90,000-$91,000, which was previously a key support level during the bull cycle.
- A successful breakout above this range could signal a return to bullish conditions.
- Current BTC trading price is $84,868, with a daily trading volume of $12.52 billion, down by 42.34%.
