Bitcoin trades near $84,000 after reclaiming its major moving averages and recovering from a $60,000 low over the past two months. Bulls now face a resistance band at $88,000-$90,000, while a swing support zone near $81,500 has held through repeated tests this week.
Bitcoin is trading around $84,000 after a strong recovery from the $60,000 area over the past couple of months, with price back above both its 100-day and 200-day moving averages. The 200-day moving average sits near $71,000, with the 100-day converging from below near $70,000, and both are turning higher toward a potential bullish crossover.
Bulls target $90,000 resistance
The old $67,000 resistance has shifted into structural support, but overhead supply remains the main obstacle. The first major resistance zone sits at $88,000-$90,000, followed by a higher supply area around $95,000, levels bitcoin would need to clear to extend the recovery toward $100,000. On the four-hour chart, price has been rejected near $86,000 and is now consolidating around $83,000. The four-hour RSI sits near 50 after stabilizing off lower levels.
Key support holds near $81,500
A separate technical read points to the same tension from below. Today's low came in near $82,760, while the high reached $84,459, keeping bitcoin inside the swing area between $81,517 and $82,833 that has held since Bitcoin broke above it on September 21. According to Investinglive: "Buyers have continued to show up where they needed to." A sustained move below $81,517 would weaken the bullish bias, with the rising 100-hour moving average near $81,442 reinforcing that floor. Buyers still need to clear last week's highs near $87,272-$87,334 to open the door toward $90,500 and the 50% retracement target at $92,003.
On-chain data shows improving profitability
The adjusted SOPR metric has climbed back above 1, with its 30-day exponential moving average currently around 1.01 after spending much of 2026 below that level. The recovery coincides with bitcoin's move from roughly $60,000 toward the current $84,000 level, suggesting the price rebound is accompanied by improving realized profitability rather than deteriorating conditions. Still, the reading remains only modestly above 1 and has not reached the levels seen during previous strong advances, so the on-chain data points to improving conditions without confirming another major expansion of the trend.
Sources: CryptoPotato, Investinglive
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