Bitcoin Encounters Resistance at $85K, Impacting Bullish Outlook

Market timing is crucial for success in trading. Currently, the outlook for bitcoin (BTC) appears constructive with increased demand for bullish options; however, its proximity to key resistance limits upside potential.

BTC is testing the lower boundary of the Ichimoku cloud around $85K.
The Ichimoku cloud includes five lines that indicate market momentum and support/resistance levels.
Prices above the cloud suggest a bullish trend; below indicates bearish conditions.
Since falling below $100K in February, the lower boundary of the cloud has acted as strong resistance.
Immediate upside for BTC may be restricted by cloud resistance at $85K, with support near $75K.
The recent interaction with cloud resistance requires cautious monitoring due to potential selling pressure.
A breakout above $90K could signal a return to a broader bull run.