Technical Analysis

Bitcoin has spent the past several weeks grinding out a bottom, forming a rounded base pattern just above the critical 78,000–80,000 support. This basing action has been healthy — no panic selling, rising volume, and a higher low structure formed.

BTC is breaking above the key 87,000 level and testing the upper edge of the sideways range.
RSI breakout above midline 50 confirms positive momentum shift.

Notably, the 50-day SMA is flattening — a key sign that selling pressure is neutralizing.

Overall, BTC looks poised for a potential upside breakout if it can secure a close above the 89,000 level.

🐂 Bullish Case

• Break and hold above 89,000 unlocks the path to 92,365 (R1).
• A sustained move could target 104,020 and even test the ATH region around 110,000–112,000 later in 2025.
• Broad risk appetite is improving in global markets, aiding crypto sentiment.

Immediate Bullish Targets:

• 92,365 (R1 Pivot)
• 104,020 (R2 Pivot)
• 110,150 (All-Time High)

🐻 Bearish Risk Case

• Failure to break above 89,000 could trigger a retest of 84,650.
• Deeper pullback could see a test of 78,475 (200-day SMA).
• Risk-off news headlines (e.g., regulatory crackdowns, macro shocks) could reverse gains.

Risk Levels to Watch:

• 84,650 (support zone)
• 78,475 (key defense line)

Key Technical Summary

Conclusion

The breakout over 87k–89k resistance could reignite the bullish trend and send prices much higher toward the 92k and 104k levels.

Short-Term View: Cautiously bullish — waiting for confirmation close above 89k
Medium-Term View: Bullish — new uptrend potentially forming
Long-Term View: Bullish — set to retest ATH later this year if macro and liquidity conditions stay supportive

Summary Table