Bitcoin Price Analysis: BTC Reclaims Major Moving Averages as Bulls Target $90K Resistance
đ Bitcoin has surged to around $84K, recovering from a low of $60K, with key moving averages indicating a bullish trend and a shift in resistance to support at $67K.
đ The daily chart shows BTC's strong recovery, breaking through significant resistance levels and establishing a consolidation zone between $75K-$80K, while facing major resistance at $88K-$90K.
đ° On-chain analysis reveals improved profitability for Bitcoin, with the adjusted SOPR climbing above 1, indicating that market participants are realizing profits, though it remains modest compared to previous bullish trends.
đ Bitcoin has surged to around $84K, recovering from a low of $60K, with key moving averages indicating a bullish trend and a shift in resistance to support at $67K.
đ The daily chart shows BTC's strong recovery, breaking through significant resistance levels and establishing a consolidation zone between $75K-$80K, while facing major resistance at $88K-$90K.
đ° On-chain analysis reveals improved profitability for Bitcoin, with the adjusted SOPR climbing above 1, indicating that market participants are realizing profits, though it remains modest compared to previous bullish trends.