Bitcoin (BTC) price prediction: BTC/USDT finds support, breaks above resistance, and starts ascending

Bitcoin has mounted above a former resistance level of $80,00 in the most recent breakout, resulting in a fast upward motion before meeting another roadblock.

Bitcoin price found support, broke above current resistance levels, and has started ascending once more. This move comes as bulls recovered their control after several lower price tests.

The Bitcoin price seems to be consolidating gains and getting ready for another push up once it has recuperated from the latest setbacks. The next resistance zone, which might determine momentum, is being closely monitored by analysts and traders.

Though the price pattern looks solid in the short run, the issue remains: might the Bitcoin breakout keep its rally, or is a more serious correction still possible?

Price Movements and Market Prospects

Bitcoin has mounted above a former resistance level of $85,000 in the most recent breakout, resulting in a rapid upward motion before meeting another roadblock. The price pulled back a bit with increased optimism fueling the Bitcoin price.

However, this saw buyers defend support at a level not far below. This bounce has kept bulls in charge and seen the market stable, trading within a small consolidation zone. The breakout from a downward trendline also increased confidence, thus validating a change in short-term outlook.

Still, this is no unambiguous sign for more upward till present. Further evidence will be necessary to determine whether bulls can raise the price significantly; the present range indicates indecisiveness. Bitcoin might start a new leg up if the market strongly passes the following resistance level. But if support areas start to lose, not doing so might inspire fresh selling pressure. The emphasis now is on whether consolidation is solved with force or another recession follows.

Let’s take a look at Bitcoin price prediction to see how Bitcoin is performing in the smaller timeframe.

Bitcoin Price Prediction: BTC May See Another Rise As Bulls Defend Key Level

After rebounding from a major support area around $84,000, Bitcoin is trading at about $84,893 on the BTC/USDT 1-hour chart. It is approaching a resistance band around $85,800, which has limited recent upward swings.

Strong support areas lie at $84,000, $80,000, and $75,000 below, all of which saw significant buying pressure previously. The Relative Strength Index (RSI) stands at 55.78, indicating neutral momentum with no prevailing overbought or oversold pressure.

Past overextended levels caused small pullbacks, and previous oversold zones set off recoveries, thus validating their usefulness for traders. However, recent death crosses warn traders against fake breakouts.

The MACD line is showing early signs of a bullish crossover as it is slightly above the signal line.

Between $84,000 and $85,800, the market is still in a consolidation phase, so a Bitcoin breakout above resistance might set off a move toward $87,000; a breakdown could retest lower support. Bitcoin ETF developments could act as an external catalyst.

Traders should check volume to confirm a breakout.