$BTC targets a rebound toward $85,000‼️‼️‼️‼️🔥🔥🔥🔥
Bitcoin was trading at $82,290 at the time of writing on Monday, maintaining a broadly constructive bullish bias.
📈On the 4-hour chart, BTC reclaimed the 50-period and 200-period Exponential Moving Averages (EMAs) at $82,336 and $81,948, respectively, reducing the risk of a Death Cross between them.
➡️From a technical perspective, BTC’s rebound is testing a bullish breakout above a descending resistance trendline connecting the October 6 and 14 highs, near $82,479. A confirmed break above this level could strengthen the short-term bullish structure and pave the way toward the October 11 high of $84,199.
The Moving Average Convergence Divergence (MACD) indicator has moved into positive territory on the 4-hour chart, with its histogram widening above the zero line. At the same time, the Relative Strength Index (RSI) at 54 is above the midpoint, suggesting that upward momentum still slightly favors buyers.
⛔On the downside, initial support is at the 50-period and 200-period EMAs, around $82,336 and $81,948, which together form the first demand cluster if the pair pulls back. A deeper decline would expose the September 20 low of $80,126 as the next key floor. Failure to hold there would weaken the current bullish tone and open the door to a broader consolidation phase.
CryptoVaultDepositsTop$10Billion#BankOfRussiaSaysSelfCustodyBanStartsJuly2027 $SAHARA $WAL
Bitcoin was trading at $82,290 at the time of writing on Monday, maintaining a broadly constructive bullish bias.
📈On the 4-hour chart, BTC reclaimed the 50-period and 200-period Exponential Moving Averages (EMAs) at $82,336 and $81,948, respectively, reducing the risk of a Death Cross between them.
➡️From a technical perspective, BTC’s rebound is testing a bullish breakout above a descending resistance trendline connecting the October 6 and 14 highs, near $82,479. A confirmed break above this level could strengthen the short-term bullish structure and pave the way toward the October 11 high of $84,199.
The Moving Average Convergence Divergence (MACD) indicator has moved into positive territory on the 4-hour chart, with its histogram widening above the zero line. At the same time, the Relative Strength Index (RSI) at 54 is above the midpoint, suggesting that upward momentum still slightly favors buyers.
⛔On the downside, initial support is at the 50-period and 200-period EMAs, around $82,336 and $81,948, which together form the first demand cluster if the pair pulls back. A deeper decline would expose the September 20 low of $80,126 as the next key floor. Failure to hold there would weaken the current bullish tone and open the door to a broader consolidation phase.
CryptoVaultDepositsTop$10Billion#BankOfRussiaSaysSelfCustodyBanStartsJuly2027 $SAHARA $WAL