Bitcoin prices seem to have been trapped in the range of $ 83,000 and $ 86,000 over the last week. Investors who do not have a clear direction for premier cryptocurrency are wondering what stage the market cycle is.
According to a popular password analyst in Social Media Platform X, Bitcoin prices can prepare for the next big movement in any direction in the next few weeks. Anyway, there is an important level to be careful within the next few days.
An important level of monitoring the next movement of BTC
In the April 19 post of the X platform, ALI Martinez, an encryption analyst, shared an interesting analysis of Bitcoin Price, emphasizing the current layout of the world’s largest cryptocurrency with a market cap. Online experts have a BTC bear and bulls in battle, so the market is uneven.
In particular, Premier Cryptocurrency seems to have entered the range of $ 83,000- $ 86,000 on Saturday, April 12. Therefore, Martinez’s analysis is based on the price of the BTC that bounces the support for one hour and the resistance level.
Source: @ali_charts on X
As you can see in the chart above, the price of Bitcoin has tried several times a $ 86,000 resistance area last week. But since the price of the BTC has always found a way to go back to $ 83,000, Bulls’s optimism has met with Bitcoin Bears’s recovery.
Most recently, the flagship cryptocurrency headed for $ 86,000 on Wednesday, April 16. However, the chairman of Jerome Powell, chairman of the Federal Reserve Bank (Fed), suggested that the interest rate will not come as early as the Crypto traders expected.
Martinez pointed out that in his position, the next important movement of bitcoin prices depends mainly at $ 83,000 and $ 86,000. According to Crypto Pundit, more than $ 86,000 offer can be spoken of Bitcoin’s strength, and rest of less than $ 83,000 can mean additional modifications of market leaders.
Bitcoin price outline
After reaching a record high of $ 108,786 in January 2025, the price of BTC has fallen steadily over the last few months. According to Coingecko’s data, flagship cryptocurrency has recorded more than 22% of its value since its record price.
At the time of this article, Bitcoin’s price is about $ 84,530, reflecting a 0.3% decrease in the last 24 hours. Meanwhile, bitcoin prices have risen more than 1% during the weekly period.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Istock’s main image, TradingView chart
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