Bitcoin (BTC) trades near $84K after reclaiming key moving averages, but $88K-$90K resistance remains the main barrier as on-chain profitability improves.
Key Points:
- Bitcoin is trading above its 100-day and 200-day moving averages, now near $70K and $71K.
- The $86K-$90K area remains immediate resistance, while $80K-$82K is the closest short-term demand zone.
- Adjusted SOPR has moved above 1, with its 30-day exponential moving average near 1.01.
Bitcoin Resistance
Bitcoin’s recovery from the $60K area has restored a more constructive daily structure, with price again above both major moving averages. The rebound also turned former resistance near $67K into deeper structural support, while a newer support zone formed between $75K and $80K after the August breakout.
The 200-day moving average stands near $71K, while the 100-day average is approaching from below around $70K, and both have started turning higher. A bullish crossover is now close.
Bitcoin later pushed toward $88K, but the daily chart shows substantial supply between $88K and $90K that has so far blocked a sustained continuation. The $95K area comes next.
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Shayan Markets View
The four-hour chart shows a shorter-term rejection after Bitcoin moved from roughly $75K through $82K and reached the $86K area, where sellers stopped the advance. Price has since consolidated near $83K, while the $80K-$82K order block remains the main nearby demand zone following the breakout.
The four-hour RSI sits around 50. That reading suggests momentum has stabilized rather than become stretched, although the indicator has not yet produced a clear bullish shift.
Shayan Markets said the on-chain picture has also improved because adjusted SOPR moved back above 1, with its 30-day exponential moving average now near 1.01. The metric shows whether spent coins are moving at an aggregate profit or loss, and readings above 1 indicate that profitable spending is dominant. The analyst said improving realized profitability supports the recovery, but the current aSOPR reading remains modest compared with levels recorded during stronger advances and does not confirm another major expansion.
Bitcoin’s current setup follows a climb from around $60K over the past two months, a break above $67K in August and a later consolidation between $75K and $80K before price approached $88K.
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