Bitcoin's Next Move: Here's What to Watch
Summary
Crypto markets rose nearly 2% to a $2.8 trillion total capitalization, while Bitcoin traded just below $83,000 after rebounding near $80,000. Bitcoin remained above its 50-day and 200-day exponential moving averages, with the shorter average above the longer one, indicating a bullish trend structure; its RSI was a neutral-to-positive 53.34. Key resistance is $87,371. Support is at $80,433, then $76,140 and $72,671. A breakout above resistance could extend gains, while a close below $80,433 would put lower support levels in focus. The outlook is set against oil near $110 a barrel and concerns that inflation could keep U.S. interest rates high.
