$BTC Next target 85-87,000$:
From the chart, it appears that Bitcoin (BTC) is on a strong upward trend, currently trading at around 84,427.52 USDT with an impressive gain of 5.91%. The 24-hour high has been 84,886.00, and the chart shows a bullish sentiment with strong price momentum.
Here are some key technical indicators and targets to consider:
1. Next Resistance Level: The immediate resistance level appears to be around the recent high of 84,886. If BTC breaks above this level with high volume, it may continue its bullish trend toward the next psychological resistance at around 85,500 - 86,000 USDT.
2. Support Levels: The nearest support levels can be identified at previous price levels around 79,169.85 and then at the 72,551.15 level if a pullback occurs.
3. Indicators:
The Exponential Moving Averages (EMA) show that the short-term EMA (yellow line) is above the longer EMAs, confirming an uptrend.
Stoch RSI is at 95.46, indicating overbought conditions, which may lead to a slight correction or consolidation before further gains.
Relative Strength Index (RSI) at 91.21 also suggests overbought territory, hinting at potential retracement.
In summary, the next target may be around 85,500 - 86,000 if the uptrend continues. However, caution is advised due to the overbought indicators, as there may be short-term pullbacks.
