Bitcoin is showing potential for an upward movement, trading above key support levels. It needs to breach $85,200 resistance for further gains, with immediate support at $84,500. Important resistance levels are noted at $85,200 and $85,500, while primary support levels sit at $84,500 and $83,200.
Bitcoin is experiencing a gradual upward trend, currently positioned above the $83,500 mark. For a sustained increase, it needs to surpass the resistance level of $85,200. Recent support was observed at $83,200, leading to a recovery phase, with the price currently trading above $84,500 and the 100-hourly simple moving average. A significant breakthrough occurred above a bearish trend line with resistance at $84,650, as per the hourly chart of the BTC/USD pair.
