Bitcoin closed the week above the main support band showing an upward trend, drawing attention in the markets again. Analysts closely monitored whether this critical band would be lost after the rapid rise in price and whether the next important resistance level would be overcome. Especially the $82,000 point is of great importance; It is stated that a permanent movement above this point may start a new upward wave.
Critical Resistance Zones Are Being Tested Again
Bitcoin’s current price action has signaled a strengthening of the main support band, which it previously broke and rose above again. According to technical analysis, this band is known to stand out as an important trend indicator in market cycles. Currently, Bitcoin is approaching the main resistance zone, especially at $82,000, while investors are watching to see if the price can surpass this level.
In the current chart shared by Daan Crypto Trades, it is highlighted that the weekly closing above this support band maintains the upward trend. According to the analyst, both the 200-period daily moving average and the 200-day exponential average are at $82,000, and exceeding these points could signal a strong continuation.
In order for bullish scenarios to strengthen, Bitcoin must remain above this area and close above the moving averages, especially at $82,000. According to the analyst, if these conditions are met, higher levels may come to the fore in the medium term.
While confidence in the markets increases when this support zone is maintained periodically, when the price falls below, it may take time for a new momentum to occur. Currently, Bitcoin’s performance above both the weekly 200-day exponential average ($68,837) and the weekly 200-day simple moving average ($61,125) suggests that the structure has strengthened since the March lows.
Upside 100% Fib Level and $86.582 Target
On the technical view, the price currently appears to be testing the 100% Fibonacci extension level frequently. According to the analyst named Man of Bitcoin, it is stated that Bitcoin has reacted at this level several times and this is the most important resistance in the short term. A clear breach of the said resistance zone could bring the price to the target of $86,582.
The analyst emphasized that if the price can break the 100% Fibonacci extension level, the next main target is around $86,582. This level stands out as the first comprehensive resistance for the continuation of the current price movement.
According to the data in the chart, it appears that Bitcoin is moving in a short-term upward channel and the price has reached the upper part of the channel. However, for the rise to be confirmed, this marked resistance band around $ 81,960 must be clearly overcome. Although $89,529 and $94,621 points stand out as the next extension levels, $86,582 stands out as the first main target.
In the opposite case, that is, if the price cannot pass this resistance, the $ 78,180 levels stand out as the first important support for investors. In case of a deeper retreat, the $76.555 and $74.917 areas may be put on the watch list again.
