Bitcoin News
By Sydney TheCMO
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Moving Averages and Price Targets. A close above $85,000 changes the game pretty fast. That opens the door to $89,000, then $94,000…
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What Miners Are Doing. The Miners' Position Index dropped below -1.0 back in February when Bitcoin hit $60,000.
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Resistance and Support Levels. Support levels matter just as much as resistance right now.
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Bitcoin broke back above $81,000 this week. That's a 10% bounce from the $72,000 floor it held through late April. But the real fight starts now.
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The $83,000 to $85,000 band sits right where the 200-day moving average lives, and that's proven sticky before.
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The weekly MACD crossover flashed bullish on April 13. Since then, Bitcoin's up about 15%. That's not huge, but it's steady. And the MACD has a track record worth noting.
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The Miners' Position Index dropped below -1.0 back in February when Bitcoin hit $60,000. That usually means miners are holding, not selling. And they did.
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Profit-taking picked up recently. Net realized profits hit $207.56 million, which is pretty high. That means people are cashing out at these levels. But demand's absorbing it.
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A weekly close above $81,000 and a clean retest would be bullish. That could set up a move into the $86,000 to $89,000 range. From there, $100,000 becomes the next big target.
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Related: BTC Holds $81K as Realized Cap Turns Positive After Panic-Driven Selloff
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Support levels matter just as much as resistance right now. If Bitcoin can't break $85,000, it'll probably retest $75,000. That's where buyers showed up before.
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The behavior of miners continues to shape the market. The MPI staying below zero means they're not adding much selling pressure.
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Profit realization at $207.56 million shows strong demand at current levels. Sellers are active, but buyers are matching them. That balance is key.
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The interplay between technical indicators and on-chain data will decide what happens next. The MACD crossover, the MPI, and profit-taking levels all point in different directions.
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More context: BTC Tests $82K After $135M Liquidation Wipes Leveraged Traders
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