Bitcoin Clears Key Moving Averages — Next Stop $87K?
BTC broke above its 100- and 200-hour MAs after holding $82,923 support. Bulls now eye $86,117 then last week's $87,334 high.
Bitcoin just made a move that matters. After bouncing off support near $82,923 — barely above the $82,833 swing boundary — buyers pushed the price through both the 100-hour moving average at $83,855 and the 200-hour moving average at $84,316. That's not decoration. Those two levels are now your line in the sand.
Here's the backstory. BTC broke above a key swing zone between $81,517 and $82,833 about a week ago, riding that momentum to highs near $87,334 on both Monday and Wednesday of last week. Buyers had their shot and blew it. Price rotated all the way back into that swing zone, tagged a Monday low of roughly $82,500, and then stalled again — pinned under the 200-hour MA until today's push finally cleared it.
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Now the question is retention, not the break itself. The 200-hour MA at $84,316 is the critical defense level. Hold it and bulls stay in the driver's seat. Lose it and the 100-hour at $83,855 becomes the next test. Drop below both and you're talking about revisiting $82,833, then $82,500, then the bottom of the swing zone at $81,517. That's a lot of ground to give back.
On the upside, the roadmap is clean. First target is $86,117. Clear that and you're back staring at $87,334 — the ceiling that rejected price twice last week. A confirmed break there opens the door to the January swing-high cluster near $90,554 and ultimately the $92,000 zone, which doubles as the 50% retracement of the entire drop from Bitcoin's all-time high set last October. Two technical references at the same price makes that level a major battleground.
Bottom line: bulls reclaimed the moving averages and now have to defend them. Watch $84,316 on any dip. Continue reading at Forexlive.
