BTCUSDT is trading around 86,500 USDT, continuing to maintain a bullish structure within an ascending channel. After surpassing the 79,718 and 82,004 levels, the price is currently consolidating just below the short-term peak of 87,400, while holding above the EMA34 (approx. 85,740) and EMA89 (approx. 83,790).
The 85,500–86,000 zone currently serves as a notable immediate support level. If BTC holds this area and clearly breaks out above 87,400, I lean towards a scenario where the price extends to the 88,500–89,000 range before testing the psychological 90,000 USDT mark.
Today's market context also supports a bullish outlook. Reuters reports that Asian stocks continue to benefit from a rally in the technology sector; meanwhile, the Nasdaq has hit a new high and oil prices have cooled, helping to sustain positive risk-on sentiment.
The bullish scenario would weaken if BTC loses the 85,500 level, particularly if it closes a 1-hour (H1) candle below the EMA34.
