Bitcoin has shown a clear strengthening in the past 24 hours, rising to 81,098.53 US dollars at one point, with a daily increase of 4.8%. This upward movement has pushed the price above a key area that has repeatedly encountered resistance recently, and it has also drawn renewed attention to whether Bitcoin can continue its rebound to even higher levels.
Breakthrough above the $80,000 resistance level
In the previous week-long trend, Bitcoin encountered resistance around $80,000, and the market remained cautious about breaking through this level. The latest round of gains has pushed the price above the resistance area near the 50-week moving average. However, as of the time of this report, the weekly chart has not yet closed, so whether the breakthrough is ultimately confirmed remains to be seen.
Daily focus on $82,000 to $83,000.
From the daily chart perspective, Bitcoin briefly broke through its recent range before returning back within that range, and then moved upward again. Market analysts believe that such a trend often indicates that buying interest has not significantly weakened. However, whether this can evolve into a more definitive upward trend still depends on whether the price can continue to hold firm and create additional room for growth.
- The intraday high for Bitcoin was $81,098.53.
- 24-hour increase of 4.8%
- The next target range is $82,000 to $83,000.
Altcoins show signs of recovery simultaneously
In addition to Bitcoin, some altcoins have also exhibited similar technical patterns. Analysts compare this trend with the market structure in the early stages of previous bull markets and believe that there are signs of a resurgence in investors' risk appetite.
However, the short-term trend is still not entirely clear. If Bitcoin slows down in the range of $82,000 to $83,000, market sentiment may turn cautious again, and the momentum of altcoins following the rise could also be affected accordingly.
