BTC breaks April high and analysts eye $85k, warn of $63k risk
Bitcoin could squeeze toward $85,000, then slide to $63,000. Two analysts mapped upside targets and short zones as momentum stays strong.
Bitcoin: $85k squeeze, $63k crash risk
Bitcoin broke above April’s high. Sherlock outlined short setups and a path to $63,000 after an $85,000 tap in his X post.
He flagged a short near $80,000 if price takes equal highs and rejects. If BTC clears $79,485 before May 5, he said to wait for breakout buyers to chase the move, not short immediately, citing context on the breakout behavior.
Sherlock’s ideal short zone sits at $84,000–$85,000, where he expects a short squeeze, per recent squeeze dynamics. His chart implies a drop to ~$63,000 within a month after $85,000 is tapped, and notes a post‑2020 tendency for May to print red when April’s high isn’t broken in the first five days, detailed in his thread.
Michaël van de Poppe sees room for more upside. He pointed to $86,000–$88,000 and $91,000–$93,000 targets after BTC broke above $79,000, in his X post. He cited >$1.6 billion of US spot Bitcoin ETF inflows month‑to‑date, tracked by Bitcoinist.
At writing, BTC trades near $81,200, per market data on Holder.io.
- Short setup near $80,000 after equal highs and rejection — Sherlock
- Break above $79,485 before May 5, wait for chase — Sherlock
- Preferred short zone: $84,000–$85,000; expect squeeze — Bitcoinist
- Crash path: ~$63,000 within a month post‑$85,000 — Sherlock
- Upside targets: $86k–$88k and $91k–$93k — van de Poppe
- ETF inflows this month: >$1.6B — Bitcoinist
